IV Media Inc. completed the acquisition of Substantially All of the Assets of iMedia Brands, Inc.
August 15, 2023
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IV Media Inc. entered into an asset purchase agreement to acquire Substantially All of the Assets of iMedia Brands, Inc. for approximately $50 million on July 3, 2023. The transaction us subject to bankruptcy court approval and expected to close in August 2023. Ryan Preston Dahl, C. Michael Roh and Cristine Pirro Schwarzman of Ropes & Gray LLP and Pachulski Stang Ziehl & Jones LLP are serving as legal counsel, Lincoln International LLC is serving as investment banker, Huron Consulting Group is serving as financial advisor, and C Street Advisory Group is serving as strategy and communications advisor to the Company. Philip Richter and Jennifer Rodburg of Fried, Frank, Harris, Shriver & Jacobson LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as legal counsel to RNN. Transaction Approved by Bankruptcy Court on August 14, 2023.
IV Media Inc. completed the acquisition of Substantially All of the Assets of iMedia Brands, Inc. on August 16, 2023.
Legacy IMBDS, Inc., formerly iMedia Brands, Inc., is a global media company. It owns and operates four television networks, which are ShopHQ, ShopBulldogTV, ShopHQHealth and 123tv. Its flagship network, ShopHQ is a multiplatform interactive television network offering a balanced assortment of name brands to consumers in an engaging and informative shopping environment via television, online and mobile. 123tv is the interactive media company disrupting Germanyâs television retailing marketplace with its Dutch auction style live and automated auctions that engages consumers with 123tvâs balanced merchandising mix of compelling products shipped directly to their homes. Bulldog is a menâs shopping and lifestyle television network offering menâs merchandise, entertainment and services. ShopHQHealth is a Health and Wellness focused network that offers an assortment of products and services to address the physical, spiritual, and mental health needs of its customers and their families.