World Poker Tour Enterprises (WPTE), despite pleas and an alternate offer from Mandalay Media Inc., decided to go through with a planned special meeting with share holders last week, to vote on a bid from Peerless Media LTD (a subsidiary of PartyGaming) to purchase the company for around $12.3 million.

According to a press release from the WPTE regarding the meeting, shareholders voted by a large margin to accept the Peerless Media offer, noting the Mandalay Media eleventh hour deal, upon review, was not the "Superior Proposal" the company had made it out to be.

With this vote in the affirmative, the Peerless Media transaction is expected to officially go through in the early part of this month.


Story by Mark Anderson