“Fitness company Nautilus, Inc. (NYSE:NLS), (the "Company") announces today that it has entered into definitive agreements for the sale of certain assets of its commercial business to Fit Dragon International Ltd. The agreements provide for the sale of certain assets of StairMaster(R) and Schwinn(R) Fitness, including the licensing of indoor cycling products of the Schwinn(R) Fitness brand for use in the commercial channel. The company retains certain rights to the Schwinn(R) brand and will continue to market Schwinn(R) fitness products in the consumer channel, including both retail and direct to consumer. The transactions are subject to customary conditions to closing and are scheduled to close on or before December 30, 2009.”
http://investors.nautilusinc.com/releasedetail.cfm?ReleaseID=428995
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