DG Systems, StarGuide Close Deal

DG Systems Inc. and StarGuide Digital Networks have completed their merger. The deal, which was approved by DG Systems’ shareholders on Nov. 22, 2000, integrates StarGuide’s patented CoolCast broadcasting technology. CoolCast is an Internet broadcaster offering consumers free, join-in-progress and stored audio and video content.
Matthew E. Devine will serve as CEO of the combined entity.
StarGuide shareholders will receive approximately 1.7 DG Systems’ shares for each StarGuide share held in a tax-free exchange. The new entity’s shareholders include Infinity Broadcasting and Westwood One.