IRVINE, Calif., July 2, 2013 (GLOBE NEWSWIRE) -- On January 7, 2013, AllDigital Holdings Inc. (OTCBB:ADGL) announced the signing of a definitive agreement to merge with Broadcast International (OTCBB:BCST) in an all-stock transaction. This merger was delayed partially due to the discovery of certain encumbrances and license limitations related to critical Broadcast International intellectual property. AllDigital is now satisfied with the resolutions to date, resolutions in process, and agreed upon actions to address any known IP issues. In addition, AllDigital is pleased that Broadcast International has been able to successfully reduce its outstanding accounts payable as the result of negotiated reductions in accounts payable and the elimination of certain other liabilities.
AllDigital Announces Financing Agreement With Strategic Investors, Amendment To Merger Agreement With Broadcast International, And General Business Update
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