LOS ANGELES--(BUSINESS WIRE)--Broadcaster, Inc., (OTCBB: BCSR) the owner of Broadcaster.com, the fastest growing next generation online community, today announced the sale of Houseplans, Inc. to a company formed by the principles of Kransco, Kransco Houseplans, LLC. The sale price was $8,000,000 with $5,000,000 in cash and a $3,000,000 promissory note.
“This transaction both completes our transition into a pure Internet entertainment company and significantly strengthens our balance sheet,” said Martin Wade III, Chief Executive Officer of Broadcaster, Inc.
About Broadcaster, Inc.
Broadcaster.com is the next generation online community that empowers registered members to become broadcasters, either of themselves through web cam video chat, or as producers broadcasting from play-lists of live and pre-recorded content. Broadcasters are able to edit their programming with free Broadcaster tools, find an audience by inviting and adding other viewers to their friends list, and notify their audience of broadcast schedules and updates to channel content. Since its launch in Q4 of 2006, Broadcaster.com has amassed loyal audiences that upload and view millions of video files each month. Broadcaster's ever expanding library of content offers a wide variety of full-length movies, music videos, news feeds, original and proprietary content. Broadcaster, Inc. is headquartered in Los Angeles. For additional information about Broadcaster, Inc., please visit us at www.broadcaster.com.
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