Kaalakiota sells further Echelon assets

Passari – Kaalakiota Corporation announced today that it has completed an additional sale of Echelon Entertainment assets in its continuing attempt to recover from Tibus Heth's executorship. While the initial auction sold off large chunks of Echelon's more high-profile properties, it retained ownership of numerous lesser known properties.

According to records, Echelon has sold off approximately 45% of its remaining assets to numerous corporations across New Eden. After being aggressive in the first auction, NOH backed off this round and only picked up a few smaller holoseries. With the removal of Heth from power, Gallente and Minmatar corporations were far more involved. Egonics Inc. purchased the rights to several musical catalogs, while Impetus picked up several minor holovid properties. The Leisure Group acquired a number of organized crime dramas – an increasingly popular genre in the Minmatar Republic – from the Echelon catalog.

The additional sales were forced by Heth's theft of corporate assets which led to the siege of Haatomo and subsequent events. Analysts now expect Kaalakiota will be able to make its scheduled debt payments this quarter without taking additional loans. While Echelon has seen its stock tumble even further in response to the news, KK's stock has risen slightly.

The corporation released a short statement saying, “With the completion of this sale and the excising of unusual and needless financial drains, we are confident Kaalakiota Corporation will regain profitability in the coming quarter.”