- Madison Technologies (OTCPK:MDEX) signs letters of intent to sell both KNLA/KNET- CD Los Angeles and KVVV-LD Houston.
- While terms were not disclosed, the company indicated that the sales prices were higher than the 2022 acquisition prices with all net proceeds to be used to pay down debt the company incurred when making the acquisitions.
- The sales mark Madison’s ongoing push into television production as it greenlights plans to offer unique content for its Network and Streaming service,
- “This shift for the Company represents a sizable opportunity in an untapped part of the global media space. We believe this pivot with the Jay & Tony acquisition along with the station sales and the development of the network will enhance Madison’s value for shareholders and improve our access to capital.” said Philip Falcone, Founder and CEO.