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Technology Stocks : Avid Technology -- Ignore unavailable to you. Want to Upgrade?

To: kgreen who wrote (617)	11/20/1998 7:23:00 AM
From: kgreen	Read Replies (2) \| Respond to of 777

Okay. Met with TEK people Wednesday and got the following information: The merger, per se, is off. But TEK and AVID have formed a joint venture. They are indeed creating a third company. It's temporarily called NEWCO. NEWCO will be 50% owned by each company. It will take over the broadcast side of each company's business. NEWCO will deal with newsroom computer systems and digital networking. TEK will also continue distributing AVID N/L boxes and AVID will get to use TEK's server technology. It sounds really good... a smart partnership. AVID has about 65% of the N/L market right now. TEK relationship helps further that along. I found it interesting that TEK stock shot up,,,but not AVID's. AVID is the more valuable company, IMO. It also has a far smaller float. Kath