Avid Wins $6.7 Million Deal at NBC.Business Editors TEWKSBURY, Mass.--(BUSINESS WIRE)--Sept. 17, 2003 Avid Technology "Avid" redirects here. For the "Advancement Via Individual Determination" educational program, see AVID. Avid Technology, Inc NASDAQ: AVID is an American company specializing in video and audio production technology; specifically, digital non-linear media editing (NLE) , 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 : AVID) today announced multiple agreements with 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. , worth $6.7M, to replace several of the network's tape-based news production systems with Avid(R) end-to-end digital newsroom environments. NBC will begin the deployment of Avid's proven broadcast solutions across several of its flagship news businesses, including NBC News NBC News (along with NBC News + HD) is the news division of American television network NBC, a part of NBC Universal, which is majority-owned by General Electric. Its current president is Steve Capus. It is the top-rated broadcast news division and has been for a decade. headquarters in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , MSNBC MSNBC Microsoft/National Broadcasting Company news operations center in New Jersey, and NBC's Washington bureau. The deal makes Avid one of NBC's premier providers of news production solutions. "Avid has a proven record for delivering high-quality systems that can be scaled to support our various operations," said John W. Eck, president, Broadcast and Network Operations, at NBC. "Avid will provide solutions that we can implement quickly across several of our major divisions, and we are looking forward to a mutually successful business relationship and ongoing technology alliance." "NBC's decision underscores the growing trend to transition from tape-based equipment to digital news production environments, and further validates Avid's position as the leading provider of choice among the world's most influential broadcasters," said David Krall, Avid's 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. . "Our ability to deliver the cost-effective tools and production efficiencies we promise is what makes Avid broadcast solutions appealing to organizations like NBC. We're extremely proud that this U.S. network giant has chosen to begin standardizing its news production with Avid solutions across these three operations." As part of the deal, NBC will purchase a comprehensive mix of Avid solutions, including Avid Unity(R) for News, Avid NewsCutter(R), Avid iNEWS(TM), Avid Media Browse(TM), Avid Nearchive(TM) and Xdeck(TM) systems. The powerful capabilities offered by these systems - such as high-resolution clip-browsing from anywhere in the newsroom, and program editing during the ingest in·gest tr.v. in·gest·ed, in·gest·ing, in·gests 1. To take into the body by the mouth for digestion or absorption. See Synonyms at eat. 2. process - will allow NBC to dramatically improve its production workflow and capacity, enabling journalists to handle breaking news stories with greater speed, simplicity, and accuracy. About Avid Technology, Inc. Avid Technology, Inc. is the world leader in digital nonlinear media creation, management, and distribution solutions, enabling film, video, audio, animation, games, and broadcast news professionals to work more efficiently, productively and creatively. For more information about the company's Oscar(R), Grammy(R), and Emmy(R) award-winning products and services, please visit: www.avid.com (C) 2003 Avid Technology, Inc. All rights reserved. Product specifications and availability are subject to change without notice. Avid, Avid Unity, NewsCutter, Nearchive, Xdeck and Film Composer are either registered trademarks or trademarks of Avid Technology, Inc. in the United States and/or other countries. INEWS and Media Browse are trademarks of iNews, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Avid received an Oscar statuette representing the 1998 Scientific and Technical Award for the concept, design and engineering of the Avid Film Composer(R) system for motion picture editing. Oscar is a trademark and service mark of the Academy of Motion Picture Arts and Sciences. Emmy is a registered trademark of ATAS/NATAS. Grammy is a trademark of The National Academy of Recording Arts and Sciences The National Academy of Recording Arts & Sciences, Inc. is known variously as The Recording Academy or NARAS. Established in 1957, The Recording Academy is a U.S. , Inc. All other trademarks contained herein are the property of their respective owners. |
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