Acrodyne Inks Long Term Supply Contract With Sinclair Broadcast Group Valued At $30 Million.BLUE BELL, Pa.--(BUSINESS WIRE)--Feb. 10, 1999--Acrodyne Communications, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACRO acro Acronym ACRO Australian Creative Resources Online ACRO Association of Clinical Research Organizations ACRO American College of Radiation Oncology ACRO Aircraft Crashes Record Office (Geneva, Switzerland) acro acrolein ), a leading manufacturer and installer of television transmission systems, announced today the consummation of a Strategic Purchase Agreement with Sinclair Broadcast Group The Sinclair Broadcast Group (SBG) NASDAQ: SBGI is the operator of the largest number of local television stations in the United States with a total of 59 stations across the country in 38 primarily small and medium markets, many of which are located in the South and . The long term Purchase Agreement guarantees Sinclair price and delivery for NTSC (National TV Standards Committee) The committee that developed the television standards for the U.S, which are also used in Canada, Japan, South Korea and several Central and South American countries. Both the committee and the standard are called "NTSC. and Digital television transmitters and related services from Acrodyne. Sinclair agrees to purchase television transmitters and related services from Acrodyne for all its owned and operated stations. The term of the Agreement is five years automatically renewable. A. Robert Mancuso, Acrodyne President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "The scope of this Agreement is unprecedented in our thirty year history. I estimate that the Agreement will result in sales valued at approximately $30 million over the next five years. We are extremely pleased that the Sinclair organization has placed its trust in Acrodyne to meet its current and future needs for TV transmission equipment and services." Delbert Parks, Vice President Engineering and Operations for Sinclair, stated, "I am very happy to be able to initiate this long term relationship today and look forward to the exciting new products to come from Acrodyne tomorrow." Acrodyne Industries, Inc., the operating subsidiary of Acrodyne Communications, Inc., a public company (ACRO), is an established and respected manufacturer of television broadcast equipment. In business for 30 years, the Company has developed a leading position as a technologically advanced, high quality producer of transmitters and translators used by television stations to broadcast and retransmit over-the-air signals. Sinclair Broadcast Group, Inc. is a diversified broadcasting company that currently owns or programs 56 television stations and 51 radio stations. Upon completion of all pending transactions, Sinclair will own or program 65 television stations in 42 separate markets and 51 radio stations in 10 separate markets. Sinclair's television group will reach approximately 25.9% of U.S. television households and includes ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. , CBS (Cell Broadcast Service) See cell broadcast. , FOX, NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. , WB and UPN affiliates. Sinclair's radio group is one of the top 10 groups in the United States. This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission. |
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