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PRESS RELEASES
OMER, Israel, May 2 /PRNewswire-FirstCall/ -- RRsat Global Communications
Network Ltd. (NASDAQ: RRST), a rapidly growing provider of comprehensive
content management and global distribution services to the television and
radio broadcasting industries, announced today that it has completed the
previously announced acquisition of the Hawley Teleport located in Pike
County, Pennsylvania, for approximately $4.25 million, of which $4 millions
in cash and $250 thousands in services.
RRsat acquired all the property, assets and earth station licenses of the
Hawley Teleport from Skynet Satellite Corporation. The Hawley Teleport,
formerly owned by satellite operator Loral Skynet, includes approximately 200
acres, a 3 floor communication building, communications equipment and
antennas, in which substantial resources have been invested during the
teleport's 33 years of operation.
"We are very pleased to complete the acquisition of this premier teleport
facility in Pennsylvania, our first such acquisition in the United States.
This acquisition is the first step in our strategic plan to build a strong
local presence in North America, further expanding our proprietary RRsat
Global Network. We believe that the teleport is uniquely suited to complement
our growing services and customer base given its facilities, as well as being
geographically well-positioned for our service requirements," commented David
Rivel, Founder and CEO of RRsat.
Mr. Rivel added, "We were assigned the 13 FCC earth station licenses
previously held by Skynet and we are seeking to identify new value enhancing
synergies in order to develop and offer additional services to our customer
base - in North America, and globally."
About RRsat Global Communications Network Ltd.
RRsat Global Communications Network Ltd. (NASDAQ: RRST) provides global,
comprehensive, content management and distribution services to the rapidly
expanding television and radio broadcasting industries. Through its
proprietary "RRsat Global Network," composed of satellite and terrestrial
fiber optic transmission capacity and the public Internet, RRsat is able to
offer high-quality and flexible global distribution services for content
providers. RRsat's comprehensive content management services include
producing and playing out TV content as well as providing satellite
newsgathering services (SNG). RRsat concurrently provide these services to
more than 425 television and radio channels, covering more than 150
countries. Visit the company's website http://www.RRsat.com for more
information.
Safe Harbor Statement
This press release contains forward looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, including statements
regarding (i) our ability to successfully integrate the acquired assets, (ii)
the growth of our business in the United States and elsewhere, (iii) our
ability to build a strong local presence in the North American region, (iv)
the growth of our business and the television and radio broadcasting
industries, (v) our expectation to expand our client base and sell additional
services to our existing client base, and (vi) our ability to report future
successes. These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations, assumptions,
estimates and projections about the companies and the industry as of the date
of this press release. The company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events or
circumstances, or to changes in its expectations, except as may be required
by law. Forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those contemplated by
the forward-looking statements, including the risks indicated in our filings
with the Securities and Exchange Commission (SEC). For more details, please
refer to our SEC filings and the amendments thereto, including our Annual
Report on Form 20-F for the year ended December 31, 2007 and our Current
Reports on Form 6-K.
Information in this press release concerning Loral Skynet has not been
independently verified by RRsat.
Company Contact Information:
Gil Efron, CFO
Tel: +972-8-861-0000
Email: investors@RRsat.com
External Investor Relations Contacts:
Ehud Helft / Kenny Green
Tel: +1-866-704-6710
SOURCE RRSat Global Communications Network Ltd
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