Sale near for isle
media firm Six D
Six D Studios, a Honolulu-based media company, is being acquired by a New York firm with food and sports services operations.
Publicly traded America's Sports Voice Inc. said yesterday it has signed a letter of intent to acquire privately held Six D, a provider of Web, e-commerce, interactive, print and video communications for such Hawaii companies as American Savings Bank, Hawaiian Electric Co. and Hawaiian Host Chocolates. No financial terms were disclosed.
Six D, founded in 1996, was one of the early companies to benefit from Act 221, a state law passed in 2001 that provides tax credit for investments in high-tech businesses.
The deal to buy Six D represents the second Hawaii acquisition this year for America's Sports Voice, which in January finalized an agreement to buy Honolulu-based Milagro Entertainment Inc. Milagro, now a wholly owned subsidiary, has a television drama series under production called "Blue Waters." The Milagro acquisition gave the Hawaii company 80 percent of America's Sports Voice after the recapitalization and funding of the parent company.
America's Sports Voice also said yesterday its shareholders voted to change the corporate name to Milagro Holdings Inc.
The acquiring company trades on the Pink Sheets under the ticker symbol ASPV and closed yesterday at 29 cents. The shares are up 11.5 percent for the year and 1,833 percent over the past 52 weeks.
"We are pleased to be able to offer our expertise in digital media production to support Milagro's mission," said Vince Mitchell, president and CEO of Six D Studios. "It is exciting to be part of an international company that intends to build and keep a significant amount of production business here in the islands."