Apollo, Eaton Vance, Arbour Lane, Sound Point and Mudrick to acquire all assets of Global Eagle for $675m.

Investors Apollo, Eaton Vance, Arbour Lane, Sound Point and Mudrick, agreed to acquire all assets of Global Eagle Entertainment, provider of media, content, connectivity and data analytics to mobility end-markets across air, sea and land, for $675m. “While we made important progress last year managing our cash flow and reducing operating expenses, we have been particularly impacted by COVID-19-related travel restrictions and demand declines in both airline and cruise end-markets. We expect to emerge from this process with a stronger balance sheet, significantly reduced debt and substantial liquidity, well-positioned to continue supporting our global customers into the future. Our investors have been strong strategic partners with Global Eagle, we appreciate their continued support, and we believe this is the best path forward for our company and our customers, partners and employees,” Joshua Marks, Global Eagle CEO.