Chyron moves into the virtual arena; company purchases stake in Israeli RT-SET.(Brief Article)

Broadcasting & Cable, January, 1996 by Dickson, Glen

Company purchases stake in Israeli RT-SET; will market set technology in U.S. Character-generator king Chyron Corp. is entering the virtual set business. The Melville, N.Y.-based firm has signed a letter of intent with BVR Technologies whereby Chyron will acquire 19% of Israeli virtual set manufacturer RT-SET (Real Time Synthesized Entertainment Technology), a BVR subsidiary.

Under the terms of the agreement in principle, Chyron will issue common stock with a market value of $6 million for a new class of preferred shares to be offered by RT-SET. If the deal goes through, Chyron will receive option rights that will allow it to acquire a 51% or greater position in RT-SET common stock in the future. According to Chyron President/COO Isaac Hersley, the deal...

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