Related Party Transactions
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3 Months Ended |
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Mar. 31, 2013
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Related Party Transactions [Abstract] | |
Related Party Transactions |
Related Party Transactions
PAR Backstop Fee
In connection with the closing of the Row 44 Merger, Row 44 paid PAR $11.9 million under a backstop fee agreement. This was recorded as transaction costs reflected in operating results as a selling, general, and administrative expense in the period ended March 31, 2013.
Administrative Services
AIA's subsidiary, Entertainment in Motion (“EIM”), rented office space belonging to a company in which the AIA's managing directors have a stake. There were no unpaid lease liabilities as of March 31, 2013 and December 31, 2012. The Company recognized rent expense of $60,000 and $0 for the period ended March 31, 2013 and 2012, respectively. EIM also made a loan to the managing director. As of March 31, 2013, the outstanding balance was $22,500.
In the reporting period, AIA's subsidiary, Fairdeal Multimedia, rented office space belonging to the AIA's managing director, for which it paid rent equivalent to $11,100 per month. As of March 31, 2013, there were no unpaid rent liabilities.
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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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