BB's Stock Haven

[Incite101]

READ THIS
Dallas Mavericks owner Mark Cuban to pay 68 cents per share, for shares representing about 95 percent of Immediatek Inc.’s (ITEK.ob) outstanding shares.

Mark Cuban takes on concert CD venture

11:04 AM CST on Wednesday, January 25, 2006
By CRAYTON HARRISON / The Dallas Morning News



An investment firm owned by Dallas Mavericks owner Mark Cuban has agreed to buy a controlling stake in a Richardson-based company that sells CD recordings of live concerts minutes after the performances conclude.

Mr. Cuban’s firm, Radical Holdings LP, will pay $3 million, or about 68 cents per share, for shares representing about 95 percent of Immediatek Inc.’s outstanding shares, according to a filing with the Securities and Exchange Commission.

The transaction is expected to close in February.

Immediatek, led by chief executive Zach Bair, provides the concert CDs through its subsidiary DiscLive, acquired in 2004 for $833,000.

Mr. Bair and chief operating officer Paul Marin will remain with the company in their current positions, Immediatek said.

Mr. Cuban did not immediately respond to an e-mail Wednesday. Mr. Bair declined to comment.

To the best of my knowledge this article was published locally and has yet to be released nationally. http://www.dallasnews.com/sharedcontent/dws/bus/stories/012506dnbuscuban.39f4386c.html