Business in the Burbs

LICT sells assets for $6.6 million

March

LICT Corp., a telecommunications and multimedia company based in Rye, announced that it recently sold several assets for $6.6 million, resulting in a significant capital gain for the company.Â LICT, formerly known as Lynch Interactive, said it will release additional details about the sale later.LICT also announced that the Federal Communications Commission has returned to the company its upfront payment of $15 million that was made in connection with the FCCâ€™s auction of wireless spectrum licenses. LICT said that payment was returned after it was not high bidder for the licenses.In addition, LICT estimated that its revenues for the fourth quarter will be $25.6 million, compared with $24.3 million a year earlier.

This entry was posted on Thursday, March 27th, 2008 at 5:07 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
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