PVII news
Princeton Video Image, Inc. and National Thoroughbred Racing Association
Sign Deal for ''Virtual Finish Line'' in Miami's Donn Handicap
Business Wire - January 28, 1999 08:01
- First-Ever Use of PVI's Proprietary Technology during NTRA- Sponsored Event -
Princeton Video Image, Inc. (Nasdaq: PVII, www.pvimage.com), the worldwide leader in virtual advertising and imaging
solutions for television, today announced that it has signed an agreement with the National Thoroughbred Racing Association
("NTRA") under which Princeton Video Image will use its proprietary video imaging technology to insert a "virtual finish line" in the
national telecast of the Donn Handicap Race, taking place at Miami's Gulfstream Park on January 30, 1999, and airing live on Fox
TV. Terms of the agreement, which marks the first ever use of a virtual finish line in a horseracing telecast, were not disclosed.
The race is the first event in the new "NTRA Champions on Fox." The virtual finish line is designed to give TV audiences a better
view of the track's finish line, particularly in close races, and represents a new application of Princeton Video Image's proprietary
technology, which was recently used by CBS sports to insert a virtual first down line.
Dennis Wilkinson, President and Chief Executive Officer of Princeton Video Image, said, "We are pleased to work with the
NTRA and extend our virtual image insertion technology into the world of horseracing. This is another ideal example of the added
value that our imaging technology brings to live sporting events and the many different applications that it can have."
Basil DeVito, Senior Vice-President of Television and Sponsorship for NTRA, said, "We are always willing to try any new
technology available to enhance a racing broadcast for the benefit of newcomers to our sport, as well as our avid fans, and the
virtual finish line is sure to add a dimension, literally and figuratively, to the Donn Handicap Saturday."
The NTRA is a broad-based coalition of Thoroughbred industry interests, which in addition to racetracks, includes owners,
breeders, off-track betting organizations, trainers, jockeys and sales companies, among others. Through membership dues and
funding from other horse racing interests, the NTRA markets, advertises, promotes and televises Thoroughbred racing in North
America. It also serves as a catalyst for industry-wide programs benefiting members in-group purchasing, telecommunications and
technology, consumer reach and legislative initiatives.
Princeton Video Image, Inc. has developed and is marketing a real-time video insertion system that, through patented pattern
recognition technology, places computer-generated electronic images into television broadcasts of sporting events as well as other
programming. PVI has provided video insertion services for nearly 1,000 live telecasts worldwide, including broadcasts of Major
League Baseball, National League Football, professional soccer, motor sports, and other live events.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements
that involve risks and uncertainties including, but not limited to, those relating to market acceptance, dependence on strategic
partners and third party sales, contractual restraints on use of PVI's technology, a rapidly changing commercial and technological
environment, competition, possible adverse regulations, need for additional financing, intellectual property rights and litigation, and
other risks identified in PVI's filings with the Securities and Exchange Commission. Actual results, events or performance may
differ materially. PVI undertakes no obligation to publicly release the result of any revisions to these forward-looking statements
that may be made to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
CONTACT: Princeton Video Image, Inc.
Lawrence L. Epstein
Vice President of Finance and
Chief Financial Officer
Princeton Video Image, Inc.
(609) 912-9400
pvimage.com
or
Investor Contact:
Cheryl Schneider/Tessa Lavender-Beck
Morgen-Walke Associates, Inc.
(212) 850-5600
or
Media Contact:
Christina Friedkin
Roher Public Relations
212-986-6668 or cfriedkin@roherpr.com |
