Kaalakiota to sell Echelon Entertainment assets to cover debt

Passari – Kaalakiota Corporation announced today that it will begin selling off assets owned by its subsidiary Echelon Entertainment in order to cover its upcoming debt payments to Caldari Funds Unlimited. The move, which has been expected by analysts since news of KK's financial difficulties were first brought to light, is expected to provide the megacorporation with enough operating capital to meet all its obligations in the coming quarter.

Included in the sale are numerous properties, including equipment, studio space, and other physical goods. However, the majority of the sale, and that which is expected to draw most interest, are large amounts of its intellectual property and music rights. Rights to over three-hundred top-tier musical acts, holoreel productions, broadcast networks, and novels are being sold off.

Most notably, the news program This is the State is up for sale, as is Echelon's highly popular economic news channel Caldari Financial Network.

Nugoeihuvi Corporation has already announced that it will enter bids on several of the more popular Echelon properties, including the highly successful holoseries Reign of the Raata, a dramatized retelling of the rise of the Raata Empire which is currently on its fourth series.