Point.360 (PTSX) Soars As Deal with DG FastChannel (DGIT) Finally Inked

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

From 13D Tracker

Shareholders of Point.360 (Nasdaq: PTSX), a stock we’ve been tracking, were rewarded today after DG FastChannel, Inc. (Nasdaq: DGIT) entered into an agreement whereby (i) Point.360 will spin off its post production operations to Point.360 stockholders and (ii) DG FastChannel will acquire Point.360’s Ads distribution operations.

We first noted DG FastChannel’s position in Point.360 on December 28, 2006 after the company acquired a large stake from Point.360 shareholder Midwood Capital. We also updated the developments in several follow-up reports. DG FastChannel was aggressively raising its stake in Point.360 which stirred rumors of a buyout.

Shares of Point.360 are up 40% today to $5.18 on the news.

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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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