HD Radio: Cashout
"DTS Steps Into Radio’s Tech Spotlight"
"In September, DTS Inc. entered into an agreement to acquire iBiquity for $172 million, as we reported at Radio World. DTS will pay for it with a combination of $135 million of new debt and $37 million in cash. The deal is expected to close this year, subject to conditions that seem a formality."
"HD Radio Receiver Totals Reach 10 Million"
"Broadcasters own less than 10% of the private company; that’s been true now for some eight years, as iBiquity turned to financial institutions for funding like Grotech Capital Group, J.P. Morgan Partners, New Venture Partners, FirstMark Capital as investors. Partners like Ford Motor Company, Harris, Texas Instruments and Visteon have also invested in the tech developer. We hadn’t asked broadcasters for more because we wanted them to invest in HD Radio, said Struble, noting that broadcasters originally invested less than $20 million and since then, the company has raised nearly $350 million."