RealNetworks Inc., a Seattle-based provider of artificial intelligence-based software and solutions, announced it received an unsolicited, non-binding proposal from Robert Glaser, the company’s founder, chairman and CEO, to acquire all of the outstanding shares of common stock not currently owned by Glaser and his affiliates at a purchase price of 67 cents per share in cash.
What Happened
Glaser was a Microsoft Corporation executive before he founded RealNetworks (originally Progressive Networks) in 1994. The company was a pioneer in the streaming media sector and broadcast one of the first Internet-based audio events: a baseball game between the New York Yankees and Seattle Mariners on Sept. 5, 1995.Glaser and his affiliates currently own approximately 38 percent of the outstanding shares of RealNetworks stock.
