Mandalay Media Increases Proposal to Acquire World Poker Tour

We didn't even know this was going on, but have wondered where the WPT has gone in our lives. It seems like it used to be on TV all the time, but now we are either not Tivoing or it's off the air (going to check now). Good luck WPT, but given the brand has withered a bit - this seems like a good offer.

Mandalay Media, Inc. (OTCBB:MNDL) today announced that it has increased its
proposal to the Board of Directors of WPT Enterprises, Inc. (NASDAQ:WPTE). The
revised proposal is to acquire WPT for $36.5 million, consisting of $28.5
million in cash, $5 million in Mandalay Media stock and perpetual revenue
participation rights, guaranteed to be at least $3 million. The estimated value
to shareholders per share is $1.77, including the guaranteed portion of the
revenue participation rights, and as adjusted for the actual share count at
closing. The proposal represents a premium of approximately 61% over the closing
price of WPT`s common stock on October 26, 2009 and a premium of approximately
28% over the implied value at closing of WPT`s pending asset sale with Peerless
Media Ltd.

At Mandalay Media Increases Proposal to Acquire World Poker Tour to $36.5 million, $1.77 Per Share

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