Bridge Technology Group LLC Announces Investment Opinion on ACTV.
NEW YORK--(BUSINESS WIRE)--April 14, 1999--
Bridge Technology Group LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control Reiterates Buy On ACTV ACTV Active
ACTV Azienda del Consorzio Trasporti Veneziano (Venice Public Transport Company, Italy)
ACTV Advanced Compatible Television
Following Increased Investment by Liberty Media Group
Please Visit Bridge's Web Site at
www.BridgeNYC.com for Detailed Report
Bridge Technology Group LLC today published comments on ACTV's (Nasdaq:IATV) announcement that Liberty Media Group (NYSE NYSE
See: New York Stock Exchange :LMGa and LMGb) had increased its investment in ACTV and received options to purchase additional shares in ACTV over the next five years. The full text of this report can be accessed at Bridge's web site, at www.BridgeNYC.com.
Excerpts from the Bridge report follow:
ACTV and Liberty Media Group (NYSE:LMGa and LMGb) announced yesterday that the parties had reached an agreement whereby Liberty will invest an additional $9 million in ACTV (through the exercise of previously existing options and the purchase of new shares), and Liberty will receive options to purchase additional interests in ACTV over the next one-to-five years. If fully exercised, these investments will total more than $100 million and Liberty could end up owning approximately 25% of ACTV. We believe this expanded investment reflects Liberty's commitment to the commercialization of the HyperTV and Individualized in·di·vid·u·al·ize
tr.v. in·di·vid·u·al·ized, in·di·vid·u·al·iz·ing, in·di·vid·u·al·iz·es
1. To give individuality to.
2. To consider or treat individually; particularize.
3. Television technologies, and ensures that ACTV's patented interactive applications will be integrated into the vast operations in which Liberty has an ownership interest. We reiterate re·it·er·ate
tr.v. re·it·er·at·ed, re·it·er·at·ing, re·it·er·ates
To say or do again or repeatedly. See Synonyms at repeat.
re·it our BUY recommendation.
As part of this transaction, Liberty Media receives a series of options that allows them to make additional equity investments over the next five years. Exercise of the options over the next 24 months would result in investments of approximately $50 million. Liberty must exercise each option sequentially, or the remaining options expire.
Positive aspects of the new ACTV/Liberty Media Partnership
-- Gives ACTV Strong Financing Plan: This agreement, together with
the calling of outstanding warrants, has resulted in an inflow in·flow
1. The act or process of flowing in or into: an inflow of water; an inflow of information.
approximately $18 million to ACTV this month. This will enable
ACTV to accelerate the build-out of the HyperTV network, as well
as invest in additional Individualized Television regional
programming facilities (similar to the ACTV facilities in the FOX
Sports SouthWest region). The series of options greatly enhances
ACTV's financing flexibility.
-- Liberty Media - Follow the "Smart Money": With the possibility of
becoming a 25% ACTV owner, we believe Liberty Media evolves from
simply a minority investor to a "real" partner, with a strong
incentive to maximize ACTV shareholder value. We view this
agreement as validation of ACTV's technology and strategy and
reflective of Liberty's confidence in the ACTV management and
technical teams. Liberty Media has a very well established track
record for investing in winners, and growing shareholder value;
invest alongside the "smart money."
-- Liberty Digital - Raises ACTV's Internet Profile: Investors
should note that Liberty's holdings in ACTV securities are
contemplated to be included in Liberty Media's proposed exchange
of assets with TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. Music Inc. (Nasdaq:TUNE). As part of this
asset swap Asset Swap
Similar in structure to a plain vanilla swap, the key difference is the underlying of the swap contract. Rather than regular fixed and floating loan interest rates being swapped, fixed and floating investments are being exchanged. , Liberty Media intends to contribute all of its
directly owned Internet and interactive television assets to TUNE
in exchange for an expanded interest in TUNE, which would be
renamed Liberty Digital, Inc. In addition to the ACTV interests,
Liberty Media will contribute its interests in priceline.com
(Nasdaq:PCLN PCLN Priceline.com (stock abbreviation, AMEX) ), iVillage (Nasdaq:IVIL), Sportlines USA and
drugstore.com. This should give ACTV tremendous visibility and
marketing opportunities among leading Internet companies..
Bridge Technology Group LLC is a registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in focused on identifying emerging growth companies in the healthcare and information technology sectors that offer compelling investment opportunities over the long term. By providing comprehensive financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. , including corporate finance, M&A advisory, strategic partnering and communications consulting, the company positions itself to provide a fully integrated package of value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. to emerging growth companies.
The information in this press release has been obtained from sources that Bridge Technology Group LLC believes to be reliable, but the Company does not guarantee its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation solicitation
In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual by Bridge Technology Group LLC for the purchase or sale of any securities. Bridge Technology Group LLC has performed investment banking, consulting or other services for or may solicit investment banking, consulting or other business from, ACTV. Bridge Technology Group LLC or persons associated with Bridge Technology Group LLC may at anytime be long or short any of the securities referred to herein and may make purchases or sales thereof while the Company's reports are in circulation or posted on the Bridge Technology Group LLC web site at www.BridgeNYC.com. This material, or any portion thereof, may not be reproduced without prior permission from Bridge Technology Group LLC. Bridge Technology Group LLC is not responsible for the contents of this document that is intended for electronic transmission and could be thus subjected to tampering tampering The adulteration of a thing. See Drug tampering. or alteration. Copyright 1999 by Bridge Technology Group LLC. All rights reserved.