MPTV, INC. SIGNS LETTER OF INTENT TO ACQUIRE 20 PERCENT OF WORLDTRADE ENTERTAINMENT, INC.
MINNEAPOLIS, Minn., June 11 /PRNewswire/ -- MPTV, Inc. (NASDAQ: MPTV) announced today that it has signed a letter of intent, to acquire 20 percent of Worldtrade Entertainment, Inc. Worldtrade is based at Universal Studios in Orlando, Florida. Worldtrade produces three travel shows for the television industry, has multiple year contracts for the production of shows with the resort/hotel industry, and national television syndication. MPTV's management stated that the agreement involves a multi-million dollar package, consisting of the MPTV stock and cash. The acquisition is subject to the negotiation and closing of a definitive agreement. MPTV is engaged in the communications industry, with the development of video and television programs, as well as interests in the hospitality industry. The company has also entered into negotiations to acquire hotel, resort and development properties in the Midwest and Florida. -0- 6/11/93 /CONTACT: Gerald Doran, president/COO of MPTV, Inc., 612-434-8809/ (MPTV)
CO: MPTV, Inc. ST: Minnesota IN: ENT SU: TNM
TM -- NY005 -- 0945 06/11/93 08:30 EST
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|Date:||Jun 11, 1993|
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