NEW YORK--(BUSINESS WIRE)--Dec. 3, 1999--
Melvyn N. Klein Joins Board of Directors;
Day L. Patterson Named Senior Vice President and General Counsel
ACTV, Inc. (NASDAQ: IATV.O) today announced two key appointments.
Melvyn N. Klein has been appointed to the Board of Directors of ACTV,
Inc. The Company also announced that Day L. Patterson has been named
Senior Vice President and General Counsel.
Mr. Klein has more than 30 years of experience in investments,
including the building of a number of successful companies. He was a
Senior Vice President of Donaldson, Lufkin & Jenrette, Inc. (DLJ),
where he was part of the original team that started and built DLJ's
investment banking business. Klein joined DLJ in 1969, and was
instrumental in creating what has become DLJ's Merchant Banking Group.
One of its components, Sprout Group I, was one of the earliest direct
equity investment funds for institutional investors. From 1977 to the
present, he has been involved in numerous investment, management and
entrepreneurial activities. In 1988, Klein organized a $550 million
equity investment partnership, GKH Partners, L.P., with Dan Lufkin,
Harry Gray, Jay Pritzker and Tom Pritzker; he has served as its
managing partner since its inception. In early 1995, Klein was one of
four principals who founded Questor, a $300 million investment
partnership.
Mr. Patterson joins ACTV as Senior Vice President and General
Counsel with nearly 20 years of experience in the cable television
industry. Patterson's legal career started in 1969 with Shearman &
Sterling, a large Wall Street law firm. He became a partner in 1975 at
Forsyth Decker Murray & Broderick. Patterson's association with the
cable industry began in 1980 when he joined Cablevision Systems
Corporation, based on Long Island, as in-house counsel. In 1982, he
served as in-house counsel for Group W Cable (then the third largest
cable operator). He was named Senior Vice President and General
Counselof Stamford, CT-based Simmons Communications in 1988 (which
became American Cable Entertainment). He negotiated and supervised all
legal aspects of the sale of American Cable Entertainment's cable TV
systems to Charter Communications in May, 1999.
William C. Samuels, Chairman and CEO of ACTV, Inc., said: "We are
delighted that Mel has joined our Board. His appointment adds a strong
voice with in-depth financial experience to the Company and our
shareholders. Day brings us tremendous knowledge of the industry and
the public policy issues that can impact our Company as we seek to
expand upon our leadership role in digital television and TV/Web
convergence."
About ACTV, Inc.
ACTV, Inc. has pioneered TV-Internet convergence programming with
its patented HyperTV(R) software solution. The company is also a
leader in interactive digital television with its proprietary
"Individualized Television" and "Individualized Advertising" software
and programming capabilities.
ACTV has relationships with many of the dominant players in the
Internet, television and digital technology fields, including key
strategic investments from Liberty Digital, Inc. (NASDAQ: LDIG.O) and
General Instrument Corporation (NYSE: GIC.N). HyperTV Networks, ACTV
Entertainment, and Digital ADCO are subsidiaries of ACTV, Inc. Visit
ACTV's Web site at actv.com
Disclaimer: This news release contains forward-looking statements
as defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements which are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks defined in this document and in statements
filed from time to time with the Securities and Exchange Commission.
All such forward-looking statements, whether written or oral, and
whether made by or on behalf of the Company, are expressly qualified
by the cautionary statements and any other cautionary statements which
may accompany the forward-looking statements. In addition, the company
disclaims any obligation to update any forward-looking statements to
reflect events or circumstances after the date hereof.
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CONTACT: Bratskeir & Company
Mike Rosen
212/679-2233, ext. 213
mrosen@bratskeir.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: INTERNET ENTERTAINMENT COMPUTERS/ELECTRONICS |
