Black Creek, British Columbia-based Coastline Broadcasting Ltd., a regional cable television provider, has agreed to be purchased by Investel Capital Corp. for an undisclosed sum. Under the terms of the agreement, the firm will take over all of Coastline’s operations at the end of July. With offices in Vancouver and Toronto, Investel is an investment fund specializing in the acquisition of distressed and underachieving telecom companies.
PRESS RELEASE:
Vancouver-based Investel Capital Corporation is pleased to announce today that it has reached an agreement to purchase all issued and outstanding shares of Coastline Broadcasting Ltd. of Black Creek, British Columbia.
Under the share purchase agreement Investel will assume complete ownership of Coastline and take over all operations on July 31, 2013. The acquisition of Coastline represents another milestone in Investel’s portfolio of telecommunications companies and its first cable television operation.
About Investel Capital Corporation
Investel Capital Corporation is an innovative investment fund specializing in the acquisition of telecommunications companies. With offices in Vancouver and Toronto, Canada, it focuses on investing in both distressed and underachieving telecom companies that have good recurring revenue but low profitability. Target companies have immediate access to a comprehensive network resources and infrastructure including highly experienced management, administration services, engineering, customer support and network operations. But reducing operating costs and administrative burdens, companies can focus on growth.
About Coastline Broadcasting Ltd.
Coastline Broadcasting Ltd. is a regional cable television operator in British Columbia. It currently serves 800 subscribers in the Courtenay region.
SOURCE Investel Capital Corporation
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