Gaiam, Inc. consummated the sale of its non-Gaiam branded entertainment media distribution business to Cinedigm Corp. for $51.5 million, plus an adjustment for closing net working capital that is expected to total approximately $5 million to $7 million in additional cash consideration.
Gaiam is now focused on the company’s branded health and wellness business, including Gaiam branded fitness media content and products, which are sold by more than 40,000 retail doors, as well as the company’s branded e-commerce platform, and on Gaiam TV, the company’s streaming video subscription business. Gaiam TV currently provides over 5,000 exclusive video titles, including films, documentaries and original programming dedicated to conscious media, personal growth, and spirituality, and has the world’s largest online library of yoga, fitness, and wellness videos. Gaiam continues to be the leader in U.S. health and wellness media with an approximate 40 percent market share over the 12 months ended Sept. 30, 2013.
Berenson & Company served as a financial advisor to Gaiam in connection with the transaction.
