O T
Talk : $5 and Under : IATV - ACTV Interactive Television | Disclaimer and Warning
| Previous | Next | Respond |
To: +mike reichenberg (2742 )
From: +Steve Hausser Tuesday, Sep 15 1998 7:53AM ET
Reply # of 2748
Liberty Media Invests in ACTV Inc
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Sept. 15, 1998--Liberty Media Corporation (NASDAQ: LBTYA, LBTYB) and ACTV Inc. (NASDAQ: IATV) today announced a strategic investment that will join Liberty's vast programming resources and distribution relationships, with ACTV's patented "Individualized Television" digital programming capabilities.
Under terms of the agreement, Liberty Media has invested $5 million in ACTV, Inc., representing a 10 percent stake in the company, with options to invest an additional $5 million. ACTV plans to use the investment to drive the expansion of regional "Individualized Television" digital cable services through previously announced agreements with FOX Sports Net and Cablevision's (AMEX: CVC) Rainbow Sports as well as through the formation of new strategic alliances. The companies also announced a new joint venture that will explore other applications of ACTV's technology.
"We are committed to remaining at the forefront of cable programming as the industry and its consumers move further into the digital world," said Robert Bennett, President and CEO of Liberty Media. "This partnership will combine our programming experience with ACTV's powerful digital technology and enable us to offer viewers an improved television experience."
"We believe 'Individualized Television' is one of the most creative, adaptable and fun new applications we've seen for digital television," said David Jensen, Vice President of Liberty Media. "Our relationship will enable us to deliver one-of-a-kind marquee television programming to a rapidly expanding base of digital homes. In addition, this investment will provide the resources for a more robust rollout of ACTV's regional digital networks in conjunction with FOX Sports Net."
ACTV uses patented software technologies to create "Individualized Television," which takes traditional television programming into the digital age. Using a standard digital set-top box and remote control, a viewer can switch between the regular programming feed and a multitude of personal options and features. The proprietary software remembers all viewer responses and commands, enabling the delivery of individually-tailored television programming and advertising content to an unlimited number of viewers.
"Individualized Television" can enhance a variety of television genres, including sporting events, news, game shows, educational programs and advertising. For sporting events, ACTV's "Individualized Television" offers more than 60 viewing options like Star Cam, which focuses on a featured player; Instant Replay on demand; in-depth statistics; scoring summaries; and relevant video feature stories and interviews.
"Our new alliance positions ACTV as a leader in digital programming," said David Reese, President, ACTV Entertainment. "Liberty Media has a history as a cable programming innovator, and we appreciate their continued support of our company. Working together, we will provide cable operators with a valuable service and incremental revenue source, while offering advertisers one of the most powerful addressable media vehicles for an increasingly fragmented environment."
ACTV's Other Key Relationships
ACTV has a long-term programming agreement with FOX Sports Net. The agreement allows ACTV to offer "Individualized Television" digital programming services, featuring FOX Sports Net's professional and collegiate sports coverage, to any of FOX Sports Net's regional networks.
FOX Sports Net is the first national cable network built from America's most-watched regional sports channels, consisting of 22 owned and affiliated networks. It is a service of "National Sports Partners," a joint venture between Cablevision's Rainbow Media Holdings, Inc. and FOX/Liberty Networks, which is a 50/50 partnership between News Corp. and Liberty Media Corporation. Equally owned by Rainbow Media Holdings, Inc. and FOX/Liberty Networks, the venture reaches more than 60 million homes nationwide and serves as the first truly nationwide, regional and local supplier of sports programming.
General Instrument Corporation (NYSE: GIC), the leading manufacturer of digital set-top boxes and an investor in ACTV, is integrating ACTV's patented software into all of its current digital set-top boxes and will include the software in all future generations at no additional cost to cable operators or consumers. No additional hardware is required in consumer homes to receive "Individualized Television" programming.
ACTV also has relationships with The Washington Post Co. (NYSE: WPO), a long-time investor, and The Sarnoff Corporation, a leading developer of digital technology.
About ACTV, Inc.
Based in New York City, ACTV, Inc. uses patented software technologies to create state-of-the-art programming for the emerging digital television and Internet platforms. ACTV Entertainment and ACTV Net are subsidiaries of ACTV, Inc. For more information, visit the ACTV Web site at actv.com.
About Liberty Media Corporation
Liberty Media, a unit of Tele-Communications, Inc., has ownership interests in numerous cable television networks in the United States and overseas. Liberty Media Group Series A and Series B Common Stock are series of Tele-Communications, Inc. Common Stock and are traded on the National Market tier of The Nasdaq Stock Market under symbols LBTYA and LBTYB, respectively.
NOTE TO MEDIA & FINANCIAL ANALYSTS: ACTV will offer an exclusive demonstration of "Individualized Television" today -- Tuesday, September 15th from 4:00 PM - 8:00 PM EDT -- at the Official All Star Cafe in New York City's Times Square. For additional information, or if you are interested in attending, please call Mike Rosen at Bratskeir & Company at 212-679-2233.
Disclaimer: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Companies, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the companies disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
CONTACT:
Liberty Media
Vivian Carr, 303/721-5406
or
Bratskeir & Company (for ACTV)
Mike Rosen, 212/679-2233, x213
Next
Previous
| Previous | Next | Respond | View 2 replies to this message
Quotes - 100-Day Chart - News - Discussion - $5 and Under
View SubjectMarks Bookmark this Subject
ACTV Inc. (NASDAQ: IATV) Date: Sep 14
Last Trade
2 3/4
Change
+ 1/32 (+1.15%)
Bid
2 3/4 Ask
2 25/32
Volume
0225,0000
Prev.Close
2 23/32 Open
2 25/32
Day Range
2 21/32 - 2 13/16
Last Tick
00
Avg.Volume
0190,5000
52-week range: 1 9/32 - 2 7/8
Discussion | People | MetaCrawler
Subject Titles Only
Full-Text
Messages with Links
Send questions and feedback to webmistress@techstocks.com
Terms of Use
|
