Media/Entertainment
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RealNetworks (RNWK - Cramer's Take - Stockpickr) agreed to buy WiderThan (WTHN - Cramer's Take - Stockpickr) of Seoul for $17.05 a share, or $350 million. Seattle-based RealNetworks called WiderThan a leading provider of integrated mobile music and entertainment solutions. It sells ringback tones, music-on-demand and other mobile entertainment services to more than 50 wireless carriers in more than 25 countries including leading carriers such as SK Telecom in South Korea, Verizon Wireless in the U.S., and Bharti Airtel in India. "WiderThan is a world leader in mobile music services," said Rob Glaser, CEO of RealNetworks. "Indeed, RealNetworks and WiderThan share a common tradition of technical innovation and end-to-end excellence in digital media. We believe the combination of RealNetworks and WiderThan will greatly enhance our digital entertainment products and services and accelerate our reach around the world." WiderThan was halted late Tuesday after rising 32 cents in regular trading to $13.97.
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