Here's the statement from AMD:
AMD announced a definitive agreement to sell its DTV business on August 25 as part of its strategy to become leaner and more focused, while seeking to create a business model to deliver sustainable profitability and leadership in core x86 computing and graphics businesses.And here's a snip from Broadcom's statement:
In connection with the business sale, AMD received approximately $141.5 million in cash, subject to certain escrows and adjustments pursuant to the terms of the definitive asset purchase agreement.
Broadcom now anticipates that AMD's DTV business will have fourth quarter revenue between $15 and $20 million, lower than previously expected. Accordingly, the parties agreed to reduce the purchase price from $192.8 million to $141.5 million in cash (in each case, minus certain accrued employee-related amounts). The anticipated dilutive impact to EPS of $0.04 to $0.05 per share in 2009, with the combined DTV business approaching EPS neutrality in the fourth quarter of 2009, has not changed. A portion of the consideration payable to AMD was placed into escrow pursuant to the terms of the definitive asset purchase agreement. Broadcom may record a one-time charge for purchased in-process research and development expenses related to the acquisition in the fourth quarter of 2008. The amount of that charge, if any, has not yet been determined.