7th Level cancels merger with Pulse Entertainment

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7th Level, Dallas, and Pulse Entertainment, Los Angeles, have canceled their proposed merger in a mutual decision after due diligence had been completed. Separately, 7th Level announced it had procured a $4.5 million bridge loan and $10 million in private placement of preferred stock. 7th Level had announced the week of April 20 a deal with WaveTop to provide a interactive animation technology solutions for advertisements.

Copyright April 1998, Crain Communications Inc.

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