Related Party Transactions
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3 Months Ended |
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Mar. 31, 2014
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Related Party Transactions [Abstract] | |
Related Party Transactions |
Related Party Transactions
In connection with the closing of the Row 44 Merger, the Company paid PAR $11.9 million under a backstop fee agreement. This was recorded as transaction costs reflected in operating results as a general and administrative expense in the three month period ended March 31, 2013.
Administrative Services
AIA's subsidiary, Entertainment in Motion (“EIM”), rents office space belonging to a company in which AIA's management has an ownership interest. There were no unpaid lease liabilities as of March 31, 2014 and December 31, 2013. The Company recognized rent expense of $60,000 each for the three month periods ended March 31, 2013 and 2014. EIM also made a loan to one of its managing directors. As of March 31, 2014, the outstanding balance was less than $0.1 million.
Office Lease Agreement with Employee
In connection with the acquisition of PMG in the current year, the Company acquired an office lease that is currently being occupied and used as part of operations in Irvine, California. This building is majority owned by one of the founding members of PMG, who is currently an employee of the Company. The lease terminates on March 31, 2024. The total rental expense incurred during the three months ended March 31, 2014 was less than $0.1 million.
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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