Here's the official release, just came up about an hour ago;
Tri-Vision International Ltd -
Exclusive US retail distribution contract signed
Tri-Vision International Ltd TVL
Shares issued 40907396 1997-12-18 close $3.85
Thursday Dec 18 1997
Najmul H. Siddiqui reports
The company has signed a definitive agreement with Ingram Entertainment of Lavergne, Tennessee, for the exclusive commercial retail distribution of its V-Chip decoder product line in the US.
The agreement with Ingram Entertainment sets a minimum volume performance target, in the first year, of 1.5-million devices in the US with an initial stocking order of up to 400,000 units. The initial suggested retail price for the base product, which allows parents to control the quality and content of TV programs viewed in the home, is US$79.95. Solicitation of major retail accounts by Ingram will commence immediately after the product-line launch at the Consumer Electronics Show, which is scheduled to open January 8 1998 in Las Vegas, Nevada.
Contract negotiations with ANTEC/Telewire Supply for the exclusive distribution rights to US cable operators, are expected to be completed and announced before year-end. Upon conclusion of the Telewire Supply contract, the minimum volume performance target in the US is expected to exceed two million devices. Telewire Supply has commenced surveying major cable operators as to their annual requirements and profiled the Tri-Vision V-Chip product line at the Western Cable Show earlier this month in Anaheim, California. Product sales to consumers are subject to finalization of the rating classification system and technical standards in the US expected to be announced shortly.
This round of product orders marks a significant milestone for the company and the culmination of an intensive research and product development program over the past several years.
These first distributor orders for the V-Chip product are just the beginning of a campaign to successfully introduce this ground breaking technology into households around the world.
With the Canadian product launch subsequent to the planned US launch, and as further market research needs to be undertaken, Tri-Vision and Beamscope Canada have agreed to defer any volume commitment at this time. Both firms are closely cooperating on what is anticipated to be an equally successful product roll out in Canada.
Samsung Electronics and Tri-Vision have completed their efforts under the joint development agreement, signed in November 1997, and the first V-Chip enabled television will be exhibited by both firms, in their respective booths, at the Las Vegas Consumer Electronics Show in early January 1998.
Tri-Vision has the exclusive worldwide rights to the V-Chip technology invented by award-winning engineer Tim Collings.
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