Printer Friendly

METROVISION OF NORTH AMERICA, INC. ANNOUNCES TDI PARTNERSHIP AND AN EXTENSION OF ITS WARRANT REDUCTION PERIOD

 SYRACUSE, N.Y., April 16 /PRNewswire/ -- MetroVision of North America, Inc. (NASDAQ: MVTV), announced today that it had executed a joint marketing agreement with Transportation Displays Incorporated ("TDI").
 Under the three-year agreement, TDI will market MetroVision's channels through TDI's sales network to its existing advertiser base and assist MetroVision in obtaining additional contracts for the installation of MetroVision's channels in TDI's existing markets and others. As compensation, TDI will receive shares of MetroVision's common stock, warrants or cash, based upon the level of advertising revenue generated by TDI.
 Robert F. Hussey, MetroVision's president, stated, "We are very excited about the prospects associated with entering into this agreement with TDI -- the country's largest outdoor and mass transit advertising and media company." William M. Apfelbaum, TDI's president, said, "We have built the largest and most successful marketing, sales and transit media placement distribution system which can only help advance the growth in MetroVision's Commuter Channel and Flight Channel ad revenue and network expansion."
 In addition, MetroVision announced today that it extended for a period of 30 days (until May 17, 1993) the period of time during which the exercise price of its redeemable common stock purchase warrants (NASDAQ: MVTVW) would be reduced to $1.75 per share from $5.00 per share. Following the above period, the exercise price will return to $5.00 per share.
 MetroVision owns and operates the "Commuter Channel," the only wired-cable video network for the commuter rail market, and the "Flight Channel" for the airport market. The Commuter Channel is currently installed in the PATH System in New York/New Jersey, the CTA in Chicago, the BART System in San Francisco, the SEPTA System in Philadelphia, the McKinney Transportation Center in Stamford, Conn., serving both Metro-North and Amtrak; and has recently been awarded contracts to install the Commuter Channel in Boston for the MBTA (Massachusetts Bay Transportation Authority), and to pilot test in the LIRR (Long Island Railroad) system in New York. The Flight Channel is installed at the Syracuse/Hancock International Airport and is currently being installed at New York's three major airports, LaGuardia, Newark International, and JFK International.
 -0- 4/16/93
 /CONTACT: Robert F. Hussey, CEO of MetroVision, 212-370-3096/
 (MVTV)


CO: MetroVision of North America, Inc.; Transportation Displays
 Incorporated ST: New York IN: SU:


GK-WB -- NY068 -- 6927 04/16/93 16:28 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 16, 1993
Words:389
Previous Article:MONEY SMALL INVESTOR INDEX: SMALL INVESTORS GO GAGA OVER GOLD
Next Article:TEXAS UTILITIES $500 MILLION FIRST MORTGAGE 'BBB'; PREFERRED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
METROVISION OF NORTH AMERICA ANNOUNCES AGREEMENT WITH LIRR
METROVISION OF NORTH AMERICA ANNOUNCES PLANNED ACQUISITION OF TOUCHTEL
METROVISION OF NORTH AMERICA, INC. RETAINS ALLEN & COMPANY INC. AS ITS INVESTMENT BANKER
METROVISION OF NORTH AMERICA ANNOUNCES AGREEMENT
METROVISION OF NORTH AMERICA, INC. ACQUIRES TOUCHTEL, INC.
METROVISION OF NORTH AMERICA, INC. OFFERS WARRANT HOLDERS A REDUCTION IN EXERCISE PRICE
METROVISION OF NORTH AMERICA INC. ANNOUNCES TERMINATION OF MERGER AGREEMENT WITH SITE HOLDINGS, INC.
METROVISION ANNOUNCES A $2.8 MILLION CONTRACT WITH NEW JERSEY TRANSIT
Private/public vision for New Orleans' region comes to life.
Volkswagen's TDI Engine Wins Best Engine Award At Detroit Auto Show

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters