Nightwing Entertainment Group Sells My Pet Television Network to the Pet Channel.ORLANDO, Fla.--(BUSINESS WIRE)--May 15, 1997--Nightwing Entertainment Group, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: NIGI NIGI National Institute for Government Innovation ) announced today that the Company has sold its 80% controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in My Pet Television, Inc. ("MPTV MPTV Multi-Program Television MPTV Material Provided to Vendor MPTV Mobile, Positional, TV and Voice ") to The Pet Channel, Inc. ("TPC (Transaction Processing Performance Council, San Francisco, CA, www.tpc.org) An organization devoted to benchmarking transaction processing systems. In order to derive the number of transactions that can be processed in a given time frame, TPC benchmarks measure the total performance of "). The agreement calls for TPC to assume approximately $147,000 in payables incurred by MPTV. TPC also agreed to pay NIGI a 20% mark-up on all future production NIGI completes for MPTV. NIGI will continue to provide programming and supervise advertising sales for MPTV. The TPC acquisition of MPTV was funded by several groups of private investors lead by Michael E. Marcovsky, former 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. of MPTV, now Chairman and CEO of TPC. Philip Cohen Sir Philip Cohen, FRS, FRSE (born 22 July 1945) is Royal Society Research Professor at the University of Dundee, Scotland. Education: Hendon County Grammar School, University College, London External links
Nightwing Entertainment Group, Inc. is a fully integrated multimedia entertainment company whose primary focus is the production of entertainment and educational products for niche markets. In an earlier release, the Company announced the purchase of the assets of Congress Entertainment which was an independent publisher and distributor of quality sell-through pre-recorded videocassettes to mass merchants and specialty retail chains throughout the United States. The Congress catalog of over 200 titles is divided into 14 programming genres including: sports and fitness; lifestyles; children's; movie classics; and how-to. More than two-thirds of Congress' catalog is comprised of exclusively licenses programs. Congress now operates as a division of NIGI. Nightwing Entertainment Group, Inc., which is not presently a "reporting" company, intends to file a registration statement with the Securities and Exchange Commission as soon as practicable following the completion of the Company's audited financial statements and to assume all appropriate reporting requirements resulting therefrom. There can be no assurance as to if or when the Securities and Exchange Commission might declare such a registration statement effective. The reader is advised that this release contains forward looking statements of the Company and a variety of factors could cause the Company's actual results to differ materially from the anticipated results or their expectations expressed. Additional information regarding those factors are available upon request. CONTACT: CMI (Computer-Managed Instruction) Using computers to organize and manage an instructional program for students. It helps create test materials, tracks the results and monitors student progress. Eric Low or Richard Margulies, 908/225-1234 |
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