The Hollywood veterans’ publicly traded Global Eagle Acquisition has agreed to offer stock valued at $430M to buy two companies that will give them a leg up in the fast-growing inflight entertainment business. They’re acquiring Row 44, a satellite connectivity firm, and content company Advanced Inflight Alliance. The combined enterprise will trade on NASDAQ. “This is exactly the kind of worldwide digital media opportunity we’ve been seeking for Global Eagle since our IPO; and this is also a platform for Jeff and me to utilize our media and content relationships and experience to drive expansion and enhancement of inflight content and programming around the world, ” says Global Eagle CEO Harry Sloan who was formerly chief of Metro-Goldwyn Mayer Studios. His company’s co-founder, Jeff Sagansky, was a top exec at Sony Pictures and CBS.
Here’s the release: (more…)