Dynamic Imaging Acquires Atlantic Broadcasting Systems
Business Wire - August 25, 1998 10:32
PHILADELPHIA--(BUSINESS WIRE)--Aug. 25, 1998--Dynamic Imaging Systems Corp. (OTC BB: DIMG) announced Tuesday that it has acquired Atlantic Broadcasting System Inc. (ABS) in an exchange of stock transaction for an undisclosed number of shares.
ABS, based in New York City, provides live financial market news and commentary on the Internet in streaming audio through its ABS Live service.
ABS began broadcasting in 1996, making it one of the first companies to use RealAudio to deliver financial news, and ABS Live has a dedicated following in the financial community. ABS market commentary is available now at (http://www.abslive.com), and is also featured at other Internet sites including Yahoo and Timecast.
As a wholly owned subsidiary of Dynamic Imaging Systems, ABS will provide financial market updates to the Business Section of the A/V DailyNews Web site, which will be launched on September 9.
The soon to be launched A/V DailyNews Web site is the Internet's first audio/video portal specializing in delivering business, sports, health and entertainment news in streaming audio and video.
A/V DailyNews will aggregate audio and video news from many of the leading news providers in the country in an easy to digest format. A/V DailyNews will additionally be producing its own original and leading-edge content for the site which can be viewed using RealPlayer.
Drew Robertson, President of ABS said, "We are extremely excited about joining the Dynamic Imaging team. The company's impressive array of audio and video production capabilities will allow ABS's content to reach new audiences and serve new markets.
"A/V DailyNews is positioned to be one of the major news distributors on the Internet, and we are delighted to be able to contribute to the A/V DailyNews project."
In addition to providing original content to the A/V DailyNews site, ABS is developing a new service for Dynamic Imaging Systems that will allow companies to provide corporate news and information in streaming audio and video to investors, customers and consumers.
The presentations, in the form of online company newsletters, will be available on each corporation's Web site. On the ABS Web site, there will be links to all of the corporate newsletters produced.
Robertson stated, "The business model for the corporate newsletters is intended to provide complete solutions to individual companies who want to use the Internet to communicate, and is designed to help individual corporations meet their unique communications objectives."
Drew Robertson, a graduate of Princeton and Columbia Business School, was additionally the founder of a management consulting firm that specializes in transportation, corporate planning and money management. The firm counts Bell Atlantic, GE Capital, Morgan Stanley, Merrill Lynch, Soros Fund Management and Avon Products among its clients.
Dan Hunt, a Vice President and Director of Dynamic Imaging Systems, additionally outlined some of the company's Internet plans, which will be evident in the coming months. "Over the past year, we have assembled a strong portfolio of Web design, content production, and broadcasting assets.
"We have broadcast facilities in Philadelphia, Albuquerque, Los Angeles and now New York. We have Web site design subsidiaries which give us access to the talents of over 12,000 qualified Internet design professionals across the country, in addition to our wholly owned Artichoke Group, one of the leading Web design firms in the country."
"By owning controlling interests in broadcasting, Web design and content production, we have created an organization which will cost-effectively enable us to create and maintain cutting-edge content sites such as A/V DailyNews and ABS.
"We will also make these resources available to provide audio/video services for other companies around the world on a producer-for-hire and outsourcing basis."
Dynamic Imaging Systems Corp. (OTC BB: DIMG) is a firm which specializes in advanced multi-media for the Internet via A/V Newswire, A/V TradeShow, the Artichoke Group, Internet Analytics, WebTemps and the company's flagship site.
The A/V DailyNews Web site will be launched on September 9th and hosted on the Real Broadcast Network, a service offered by RealNetworks and MCI, the leading Internet backbone provider and one of the architects of the Internet.
For more information, please visit the following Web sites: Atlantic Broadcasting Systems - (http://www.abslive.com) Dynamic Imaging Systems - (http://www.dimg.com) A/V Newswire - (http://www.avnewswire.com) A/V DailyNews - (http://www.avdailynews.com).
CONTACT: Dynamic Imaging Systems Corporation
Donna Murdoch, 800/700-0295
or
Atlantic Broadcasting System Inc.
Drew Robertson, 212/557-3800
atlantic@abslive.com
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