Printer Friendly

NATIONAL MEDIA ANNOUNCES FULL SETTLEMENT OF LITIGATION WITH POSITIVE RESPONSE TELEVISION

 PHILADELPHIA, Dec. 14 /PRNewswire/ -- National Media Corporation (NYSE: NM) and Positive Response Television announced today the settlement of all claims and counterclaims between the companies which are the subject of litigation commenced by Positive Response in May 1993. The companies also announced that they have entered into a now infomercial production agreement.
 The settlement agreement calls for National Media to pay to Positive Response all currently outstanding royalties, plus a total of $550,000, $300,000 of which is payable at settlement. According to terms of the agreement, Positive Response has acknowledged National Media's sole and exclusive ownership of the Amazing Discoveries service mark. In turn, National Media has agreed that Positive Response shall be the exclusive producer and Mike Levey, chairman of Positive Response, shall be the exclusive host of all future Amazing Discoveries infomercials. Both companies plan to continue to pursue infomercial opportunities independent of one another.
 Commenting on the settlement and new production agreement, Mike Levey, chairman of Positive Response and Amazing Discoveries host, stated that his "past differences with National Media are now water under the bridge." John J. Turchi Jr., chairman and chief executive officer of National Media, added, "National Media is pleased to have this episode behind us and intends to move ahead vigorously to produce entertaining and profitable infomercials using the Amazing Discoveries format."
 -0- 12/14/93
 /CONTACT: Craig A. Streem, vice president - investor relations of National Media Corporation, 215-772-5035/
 (NM)


CO: National Media Corporation; Positive Response Television ST: Pennsylvania IN: ADV ENT SU:

MP-TW -- NY022 -- 3547 12/14/93 10:04 EST
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:Dec 14, 1993
Words:261
Previous Article:PRATT & WHITNEY'S PW4084 PASSES CRITICAL TESTS
Next Article:INTEGRATED HEALTH SERVICES TO ACQUIRE THREE FLORIDA FACILITIES; INS CHAIRMAN INVESTS IN RURAL HEALTHCARE CO.
Topics:

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