PLAINVIEW, N.Y., Feb. 12, 2018 (GLOBE NEWSWIRE) -- NeuLion, Inc. (TSX:NLN), a leading technology product and service provider that specializes in the digital video broadcasting, distribution and monetization of live and on-demand content to Internet-enabled devices, today closed its previously announced transaction selling certain DivX assets, intellectual property and subsidiaries to an affiliate (“Fortress”) of Fortress Investment Group LLC.

The company sold to Fortress its DivX business, representing certain assets, intellectual property and subsidiaries that are not core to NeuLion’s focus on the over-the-top market powered by the NeuLion Digital Platform.

Pursuant to the Purchase Agreement, NeuLion is entitled to cash consideration of $41.5 million. The assets sold accounted for approximately $15.0 million and $20.7 million of the company’s consolidated GAAP revenues for the nine months ended September 30, 2017 and the year ended December 31, 2016, respectively. In connection with the transaction, NeuLion has reduced employee headcount across various departments that had been assigned to supporting its DivX business.

About NeuLion

NeuLion, Inc. (TSX:NLN) offers solutions that power the highest quality digital experiences for live and on-demand content in up to 4K/HDR on any device. Through its end-to-end technology platform, NeuLion enables digital video management, distribution and monetization for content owners worldwide including the NFL, NBA, EFL, World Surf League, Univision, Sky Sports, Eleven Sports Network and others. NeuLion powers the entire video ecosystem for content owners and rights holders, consumer electronic companies, and third party video integrators through its MainConcept business. NeuLion’s robust consumer electronics licensing business enables its customers like Sony, LG, Samsung and others to stream secure, high-quality video seamlessly across their consumer devices. NeuLion is headquartered in Plainview, NY. For more information about NeuLion, visit www.neulion.com.