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Level 3 to Sell Advertising Distribution Business for $129M

Level 3 Communications Inc., a provider of wholesale broadband Internet access and collocation services, announced Wednesday that it has agreed to sell the advertising distribution business of its wholly owned subsidiary, Vyvx LLC, to DG FastChannel Inc. for $129 million in cash. Level 3 said it will retain ownership of Vyvx LLC and its core broadcast business, including the content distribution capabilities of Vyvx's Services Broadcast business. Based in Dallas, DG FastChannel Inc. is a provider of digital media services to the advertising, broadcast and publishing industries. Level 3 Communications is headquartered in Broomfield, Colo.