DFNL, NEWS IS OUT, MERGER COMPLETED !!
REDUCTION IN SHARES to about 4.5 million!!!
moneynet.com
-------------------------------------------------------------------
12/03 11:39 Definition, LTD. Announces Joint
Venture Agreement
LAKE PARK, Fla., Dec. 3 /PRNewswire/ -- Definition, LTD. (Nasdaq:
DFNL)
is pleased to announce a joint venture agreement with Sun
Broadcasting Systems, Inc.(Nasdaq: SHLD) and WINQ-TV,
a subsidiary of Definition, LTD. The three-year agreement calls for Sun
Broadcasting, Inc. to provide up to $30,000 per month in operational
expenses and up to $10,000 per month in programming expenses. Sun
will be the managing partner. Profits generated by WINQ-TV will be split
50/50 net after expenses.
Definition, LTD. will:
1. Aid program director with clearance of national programming.
2. Aid in acquiring stations to carry the network at an
accelerated rate.
3. Aid in setting up automation equipment to trigger local
spots at LPTV Affiliates.
4. Aid stations that are currently not on cable, to get cable coverage.
5. Offering affiliates its services in upgrading facilities.
Definition, LTD. has issued instructions to the transfer
agent to cancel approximately 3.2 million shares of
Definition, LTD. stock that has no supporting
documentation for being issued. This will leave the issued
and outstanding shares at approximately 4.5 million
shares.
SOURCE Definition, LTD.
-0- 12/3/97
/CONTACT: WorldVision Financial, 407-834-8944 or
888-345-6060/
(DFNL SHLD)
CO: Definition, LTD.; Sun Broadcasting Systems, Inc.
ST:
Florida IN: TLS SU: JVN
---------------------------------------------------------------------
Cheryl |
