RealNetworks To Merge With Greater Heights

(RTTNews) - RealNetworks, Inc. (RNWK) has signed a definitive agreement with the company's CEO, Robert Glaser, pursuant to which the company will merge with and into Greater Heights LLC, an affiliate of Glaser, and each outstanding share of common stock of the company will be converted into the right to receive cash consideration of $0.73 per share. The merger agreement has been approved by the Board of Directors. The parties expect the transaction will close in the fourth quarter.

Glaser, together with his affiliates, currently owns approximately 39% of the outstanding shares of RealNetworks's stock.