Ericsson to Sell Majority Stake in Media Solutions, Focus on Red Bee Turnaround
Ericsson will sell 51 percent of its Media Solutions business -- which specializes in TV video processing and delivery services -- to One Equity Partners as part of its strategic review of its media business, it said. Ericsson said the…
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deal is expected to close in Q3 and that it and OEP will form an independent company to which Media Solutions employees, assets and contractors will transfer. Ericsson said it's focusing on a turnaround for its other media business, media services company Red Bee Media. Also Wednesday, the telecom gearmaker reshuffled executives (see the personals section of this publication's issue).