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 SEATTLE, Dec. 17 /PRNewswire/ -- Northwest Mobile Television (NMT) today announced that it will acquire Multimedia Video Productions Inc., the mobile television subsidiary of Cincinnati-based Multimedia Inc. (NASDAQ-NMS: MMEDC). The move will solidify NMT's position as the nation's largest mobile television company.
 According to NMT Chief Executive Officer Steve Clifford, the transaction should be completed by Dec. 31. No purchase price was announced.
 "Today's market presents excellent opportunities for growth-oriented companies who are able to move quickly," Clifford said. "Because of NMT's financial strength, we are able to take advantage of this excellent opportunity to expand our geographic coverage and acquire a company with a superb reputation for customer service.
 "This move will increase our business by roughly a third, and make NMT the only mobile television company to provide a meaningful degree of nationwide coverage," he added. The addition of the Cincinnati office brings NMT's network of regional offices to six. Others are located in Seattle, Minneapolis, Honolulu, San Francisco and Los Angeles. NMT currently covers 1,700 sporting events annually, primarily in the West. Multimedia covers 550 events a year in the East and Midwest.
 Tim Abhold, NMT's president and chief operating officer, said that no current Multimedia employees would be eliminated as a result of the acquisition.
 "Our plan is to strengthen, rather than shrink, our presence in the area," Abhold said. "We will immediately invest over $1.5 million to upgrade Multimedia's three mobile units, and add new chip (solid-state) cameras. In addition, we will send a fourth truck to the Cincinnati office from the West Coast. These moves will enhance the technical capabilities and services we can provide to our customers in the region."
 Clifford said that the Multimedia purchase is another step in a long-term plan that was developed when he and two other former King Broadcasting executives, Abhold and Eric Bremner, bought NMT from King last year. Prior to the buy out, Clifford was chief executive officer of King Broadcasting Co., Bremner was president of King's Broadcast Division, and Abhold was senior vice president and general manager of NMT.
 In talking about the future, Clifford stated, "We foresee continued consolidation in the mobile television industry. Our plan has always been to grow through acquisitions, and we expect to complete one or two more acquisitions within the next 18 months."
 Equity financing for the NMT's acquisition of the Multimedia unit is being provided by Murphy & Fauver L.P., a New York firm which specializes in management buy outs; and Norwest Venture Capital, a subsidiary of Norwest Bank. Debt financing will be provided by U.S. Bank. These three entities also provided financing for the initial buy out of NMT from King Broadcasting.
 "This is a capital-intensive, technology-driven business," Clifford said. "We're fortunate to have continued support from these strong organizations as we look at the additional acquisitions and equipment purchases which will further strengthen our position as the nation's leading provider of mobile television services."
 -0- 12/17/92
 /CONTACT: Steve Clifford of Northwest Mobile Television, 206-242-0642/

CO: Northwest Mobile Television; Multimedia Video Productions Inc.;
 Multimedia Inc. ST: Washington, Ohio IN: ENT SU: TNM

SW-LM -- SE011 -- 7755 12/17/92 14:28 EST
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Publication:PR Newswire
Date:Dec 17, 1992

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