New York-based Cablevision and Princeton Video Image (PVI) have inked a deal leveraging each other's technology and financial assets. The deal will help PVI quickly expand, while giving Cablevision access to PVI's technologies.
This agreement will bring $10 million to PVI in the form of an equity investment and licensing fees. Cablevision will work with PVI to develop, market and utilize digital tech applications for use in its range of media holdings, including Madison Square Garden, the New York Knicks and Rangers, Radio City Entertainment and Rainbow Media Holdings' numerous national and regional cable networks and other content platforms. It also allows Cablevision to participate in the development of new applications and features that can enhance the customer experience of digital television, which Cablevision will begin offering in its territories this year.
PVI creates digital imaging systems and applications in virtual advertising. The company develops and markets a real-time video insertion system that places computer-generated electronic images into telecasts — including the virtual first down marker featured in NFL telecasts.