Printer Friendly

METROVISION OF NORTH AMERICA, INC. RETAINS ALLEN & COMPANY INC. AS ITS INVESTMENT BANKER

METROVISION OF NORTH AMERICA, INC. RETAINS ALLEN & COMPANY INC.
 AS ITS INVESTMENT BANKER
 SYRACUSE, N.Y., Aug. 10 /PRNewswire/ -- MetroVision of North America, Inc. (NASDAQ: MVTV) announced today that it had retained Allen & Company Inc. as its exclusive investment banker and financial advisor. Allen will advise and assist MetroVision in furthering its corporate and financial objectives, including MetroVision's efforts to establish strategic alliances with corporate partners in order to further expand its video cable networks, "The Commuter Channel" and "The Flight Channel". In this connection, Allen will assist MetroVision in identifying and arranging possible strategic alliances, mergers, joint ventures or other transactions and any financing required in connection therewith.
 Allen & Company Inc. is a New York based investment banking firm with expertise in the media, entertainment and film industries. In recent years, Allen advised Columbia Pictures Entertainment, Inc. in its sale to Sony Corp., assisted Matsushita Electric Industrial Co., Ltd. in purchasing MCA, Inc. and served as financial advisor and investment banker to The News Corporation Limited, including acting as lead manager in its $400 million equity offering completed in December 1991. Allen also recently participated in the $100 million financing of newly formed Savoy Pictures Entertainment, Inc. and continues to act as its principal advisor.
 Robert F. Hussey, president and CEO of MetroVision, stated "We are extremely excited about Allen's involvement with MetroVision. We believe that Allen & Company Inc., through its strong relationships with major companies in the media and entertainment industry, will be able to assist MetroVision in pursuing its corporate and financial objectives. MetroVision is aggressively pursuing contracts with transit authorities and other municipalities for the expansion of its video networks in transit systems and airports. This effort has been aided by the passage of the Americans With Disabilities Act, a new Federal regulation mandating the inclusion of a MetroVision type video information system in key public locations to provide needed information to the hearing impaired. We believe that MetroVision's expanding networks can be very attractive to major industry players in the media and entertainment industry."
 MetroVision owns and operates "The Commuter Channel", the only installed video cable network designed for the commuter rail industry. "The Commuter Channel" is currently installed in New York (PATH and LIRR), Philadelphia (SEPTA), Chicago (CTA), and San Francisco (BART). MetroVision also owns "The Flight Channel", a video cable network designed for the airport industry. It is expected that "The Flight Channel" will be expanded to JFK International, Newark International and LaGuardia International airports, the largest aviation hub in the country.
 -0- 8/10/92
 /CONTACT: Robert F. Hussey, president and chief executive officer of MetroVision of North America, 212-370-3096/
 (MVTV) CO: MetroVision of North America, Inc.; Allen & Company Inc. ST: New York IN: SU:


TM-DC -- NY006 -- 8374 08/10/92 09:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 10, 1992
Words:462
Previous Article:BEYONDMAIL FOR WINDOWS SHIPS: NEW WINDOWS PRODUCT CHANGING THE FACE OF E-MAIL
Next Article:MEDIALINK APPOINTS FRANCOISE HUSSON AS VICE PRESIDENT OF EUROPEAN SERVICES; EUROPEAN NEWSWIRE ANNOUNCED
Topics:


Related Articles
METROVISION OF NORTH AMERICA ANNOUNCES AGREEMENT WITH LIRR
METROVISION OF NORTH AMERICA ANNOUNCES PLANNED ACQUISITION OF TOUCHTEL
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 TDI PARTNERSHIP AND AN EXTENSION OF ITS WARRANT REDUCTION PERIOD
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.
Note Bankers of America, Inc., (NBA) Acquires Equity Interest in NASD Registered Broker/Dealer

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