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To: DiViT who wrote (39026)	2/22/1999 6:47:00 PM
From: John Rieman	Respond to of 50808

Zenith closing its settop box plant......................... twice.com Zenith Signs Up Suppliers For Video Line - -February 22, 1999 By Bob Gerson Zenith hasn't yet completed the shutdown or sale of all its manufacturing plants, but it has already lined up a list of suppliers that will provide it with video products to sell as it converts from a manufacturing marketer to marketer-only status. According to a filing with the SEC, after completion of the reorganization that will see it become a wholly owned subsidiary of Korea's LG Electronics, it plans to purchase all of its midsize color TV requirements from the existing Zenith plant in Reynosa, Mexico that will be taken over by LGE in exchange for debt. Also, for the 1999 model year other TV sizes, including TV/VCR combinations, are to come from Action Electronics of Asia, Daewoo and the Reynosa plant. Projection TVs and parts “will be purchased from several manufacturers including Hitachi” and the Reynosa plant. Five Rivers Electronics Innovations, a unit of Taylor-White of Greenville, S.C., will assemble Zenith-brand consoles assembled from chassis and tubes provided by Zenith and using some production equipment from the console/projection TV plant in Juarez, Mexico that Zenith is closing. The same company produces selected TVs and projection sets for Philips, projection TVs for Samsung, and a 32" Loewe digital TV for Go-Video. Thomson and Philips will take over the supply of color TV picture tubes for mid- to large-size TVs. Philips gets the right to supply a majority of 25" and 27" tubes this year, and 32" in 2000 and 2001, in exchange for a planned purchase of equipment from Zenith's now-closed Melrose Park, Ill., color picture tube plant. The filing said no definitive agreements have been completed concerning the company's 1999 model-year requirements for front-projection TVs, VCRs, or for some accessories and components. Zenith said it similarly has no firm deal for HDTV products, but that it is discussing a joint development effort with LGE for HDTV products that LGE would produce for Zenith. In addition to the Melrose Park, Juarez and Reynosa facilities, plants in Mexico slated to be closed or sold include one in Chihuahua that produces digital set-top boxes and a Matamoros factory that turns out electron guns for picture tubes, tuners and remote controls. While the prepackaged Chapter 11 plan will reduce Zenith's debt by some $300 million through the transfer of assets and stock to LGE and an exchange of notes, the filing cautions that it will still have $233.2 million of indebtedness and will therefore remain highly leveraged. The restructuring proposal, which provides for full payment to unsecured creditors, also includes a business plan that calls for Zenith to return to profitability in 2001 with a net of $2.6 million on sales of $935.1 million. Earnings are to jump to $25.8 million on sales of $987.6 million the following year, and in 2003 are to hit $37.1 million on sales of $1.02 billion.

To: DiViT who wrote (39026)	2/22/1999 11:07:00 PM
From: Stoctrash	Read Replies (1) \| Respond to of 50808

AVID....they know how. Industry-Leading Digital Video Vendors Line Up Behind SightPath's Solution For Delivering TV-Quality Video Over the Internet WALTHAM, Mass., Feb. 22 /PRNewswire/ -- SightPath, Inc., the first company to transform the Internet into a simple and affordable distribution channel for business television, announced today that industry leaders Intergraph Computer Systems (Nasdaq: INGR - news), Avid Technology (Nasdaq: AVID - news), Pinnacle Systems (Nasdaq: PCLE - news) and Integrated Computing Engines (ICE) are endorsing the Company's innovative media distribution system for ''microcasting'' TV- quality video to Intranets and Extranets around the world. The SightPath solution, based on the company's revolutionary Internet Media Appliance, is the first Web-based Internet delivery system that allows corporate communicators to simply and affordably deliver TV-quality video, on-demand, to any target audience for maximum impact and exposure. Intergraph, Avid and ICE are all beta sites for the SightPath system, which is expected to ship in March 1999. biz.yahoo.com