Broadcast International Inc. signs digital videoconferencing pact with Safeway stores.MIDVALE, Utah--(BUSINESS WIRE)--Feb. 9, 1995--Broadcast International Inc. (NASDAQ/NMS:BRIN) announced Thursday that it has expanded its service agreement with Safeway Stores Inc. and extended the term of its contract to the year 2000. The agreement expands Safeway's instore satellite network to include a digital videoconferencing service in all stores located in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , including Alaska and Hawaii. Revenues through the contract extension are projected to be in excess of $6.5 million. Dwight Egan, president and chief executive officer of Broadcast stated, "We are extremely pleased to be expanding our longstanding relationship with Safeway. We inaugurated our service with Safeway stores in 1985, initially providing instore music and audio advertising. "It has been exciting to watch their satellite communication needs evolve through the years See also Through The Years (Gary Glitter song) or Through The Years (Tim Finn song). For the Jethro Tull album, see Through the Years (Jethro Tull). For the Artillery box set, see Through the Years (Artillery album). to now include digital video teleconferencing See videoconferencing. ." The new service will link over 820 domestic store locations for interactive business television applications, making it one of the largest digital video networks in America. "We are proud to include a retailer of Safeway's stature on our growing list of digital video customers," Egan added. The company has signed a definitive merger agreement with Data Broadcasting Corp. (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 :DBCC DBCC Daytona Beach Community College (Florida) DBCC District Business Conduct Committee (NASD) DBCC Desert Breeze Community Church (Glendale, AZ, USA) ) through which Broadcast International would become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Data Broadcasting Corp. The closing of the transaction, which is subject to votes by the stockholders of both companies and other customary conditions, is anticipated in April 1995. Broadcast International and its wholly owned subsidiaries provide satellite delivered business communications and 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. to retailers and other customers nationwide. These services include background music, point-of-purchase advertising, high speed data transmissions, video and audio conferencing, and satellite installation and maintenance services. In addition, it provides check authorization data and recovery services for retailers nationwide. CONTACT: Broadcast International Inc. Nicholas Ruitenberg, 801/562-2252 |
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