Business Services Industry
Philips announces agreement with EchoStar to market Magnavox decoders to receive digital broadcast satellite services
Business Wire, June 8, 1995
KNOXVILLE, Tenn.--(BUSINESS WIRE)--June 8, 1995--Philips Consumer Electronics Company (PCEC) today announced the signing of a letter of intent with EchoStar Communications Corporation outlining the principles by which the companies will market Magnavox digital DBS satellite receivers and EchoStar satellite services.
The Magnavox receivers and EchoStar services will incorporate Digital Video Broadcasting (DVB) compliant technology which includes MPEG-II (Moving Pictures Experts Group second generation) compression technology. MPEG-II is quickly becoming the worldwide choice for digital compression technology. Its use will allow interoperability with the next generation of consumer electronics and computers.
"The Magnavox/EchoStar system will offer superior performance to systems currently on the market and competitive pricing," said Robert Minkhorst, President and CEO of PCEC. "The Magnavox brand equity, coupled with EchoStar's flexible programming offerings, will deliver a high degree of value to the consumer."
The EchoStar system will use an 18-inch satellite dish with an integrated receiver decoder (IRD) being developed by Philips Digital Videocommunication Systems unit. This will provide access to a broad range of EchoStar programming and near video-on-demand services. Initial hardware products, designed to meet a range of market needs, will be available in early 1996.
Philips Consumer Electronics Company designs, manufactures, markets and services Philips and Magnavox consumer, professional and commercial electronics products. Philips Digital Videocommunication Systems, a unit of PCEC, was formed in 1993 to develop and market professional/commercial products based on digital compression technologies. PCEC, with headquarters in Knoxville, Tenn., is a division of Philips Electronics North America Corporation, a $6 billion concern with corporate headquarters in New York. PCEC is also part of Philips Electronics N.V., a $33.7 billion global electronics concern based in Eindhoven, The Netherlands.
CONTACT: Philips Consumer Electronics Company, Knoxville
Jill D. Greenman, 615/521-3274
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