5th Avenue is selling three million shares of its Nasdaq-tradedstock to Brezenet, its licensee in Italy, in exchange for $3million worth of foreign commercial real estate assets. The deal isexpected to close by year end.
5th Avenue Channel owns Net Video Networks which creates andacquires television and video content for streaming on-demandservice over the Internet. 5th Avenue also has a wireless cablesystem in Wisconsin and a business-to business sales division thatsells products to mass market retailers. Mel Rosen is the firm'sCEO.
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