Early morning news cast from ACTV. Steve was right about the new employee, plus some financing news:
Thursday January 15, 8:05 am Eastern Time
Company Press Release
ACTV Makes Announcement
NEW YORK--(BUSINESS WIRE)--January 15, 1998--ACTV, Inc., (NASDAQ: IATV - news)
announced today that Kevin Liga has been appointed to the newly created position of vice president of operations for ACTV Entertainment, a wholly owned subsidiary. Mr. Liga was most recently
senior vice president of operations and chief technical officer for CAI Wireless, Inc. with overall operational and fiscal responsibilities for CAI's wireless Internet venture.
ACTV Entertainment also announced the completion of a $5 million debenture financing. Proceeds will provide funding for the roll-out of its first regional network in Texas. The notes, which were
placed by Libra Investments, Inc., are due June 30, 2003, carry interest at an annual rate of 13%, and include warrants to acquire either common stock of the Texas regional network or of ACTV,
Inc.'s common stock.
Based in New York City, ACTV Entertainment enhances the quality of television viewing by offering both live and prerecorded individualized entertainment programming. Its programming allows
viewers to enhance and augment their experience of basketball, hockey, football and other sporting events. Using ACTV's programming technology and a four button remote control, viewers are able
to focus on star players, call up statistics which are updated in real-time, select player interviews and activate instant replays on demand, all with the touch of a button.
Contact:
Lee S. Isgur
MALLORY FACTOR INC
212/350-0000
or
Daniel Mahony
ACTV, Inc.
212/262-2570 |
