Summary

The Ackerley Group signed a letter of intent to purchase Panasonic's 53-foot 720p HDTV mobile production truck for $5 million, with the deal expected to close by June 1, 2000. The truck, which previously produced ABC's NFL Monday Night Football and Super Bowl XXXIV in HDTV, features six Panasonic 720p cameras, four HD VTRs, and a full 16:9 plasma and LCD monitor wall.

Source document circa 2000 preserved as-is

      The Ackerley Group Acquires Panasonic's 720p HDTV Mobile Production Unit Groundbreaking HDTV Studio on Wheels Purchased for $5 Million

      May 24, 2000 12:00am
      Source: PR Newswire

      SEATTLE, May 23 /PRNewswire-- The Ackerley Group (NYSE: AK), a leading media and entertainment company, today announced that it has signed a letter of intent to purchase Panasonic's 720p HDTV Mobile Production Unit for $5 million. The company expects the transaction to be completed by June 1.

      Panasonic Broadcast & Television Systems Company developed the 53-foot unit and made history last fall producing all the HDTV broadcasts of "ABC's NFL Monday Night Football" games. It's also produced Super Bowl XXXIV, the 2000 NHL All-Star Game, two operas for PBS and the New Orleans Jazz Festival in the last year.

      "We're thrilled to add this state-art-of-the-art mobile studio, and its amazing capabilities, to our existing media and entertainment properties," said Denis Curley, Co-President and Chief Operating Officer. "Our guidelines for making capital expenditures such as this require that the acquisition provide a 20 percent internal rate of return. We are certain this purchase will meet those guidelines. While not a major acquisition, this is a marquee piece of equipment that will give us an opportunity to create additional synergies between our Television Broadcast and Sports & Entertainment segments."

      Panasonic Broadcast & Television Systems' President Warren Allgyer said: "It is gratifying that The Ackerley Group is committed to advancing the state of HDTV broadcasts of sports and entertainment. The Panasonic HDTV truck is a proven performer and a testament to the exciting sporting and cultural events that can be produced today in HDTV. Panasonic commends The Ackerley Group for its forward-thinking commitment to HDTV."

      The truck features an all wide-screen 16:9 monitor wall using flat panel plasma and LCD displays. Two Panasonic PT-42P1 42-inch gas plasma displays serve as the monitor wall's centerpiece. The HDTV equipment integral to the operation of the production truck includes:

      -- Four Panasonic AQ7200P 720 Progressive digital HDTV format studio cameras with 66X13.5 Fujinon lenses,

      -- Two Panasonic AQ720 720 Progressive digital HDTV hand-held cameras with

      Canon HJ18X7.8B lenses,

      -- A Panasonic AJ-PD900 DVC Pro 50 480 Progressive Camcorder,

      -- 3,965 meters of fiber optic camera cables,

      -- Four Panasonic AJ-HD2700 Digital VTRs with slow motion replay controls,

      -- A Snell and Wilcox HD Production Switcher,

      -- Two Chyron Duet HD character generators, and

      -- A Calrec Alpha 100 all-digital, 96 stereo input audio mixing console.

      All equipment is housed in a Gerling and Associates Expando Trailer with two integrated, 10-ton Environmental Control Systems. The entire truck can be operated with a wide range of single or three-phase power sources. The entire package was constructed in Pittsburgh, Penn., at Synergistics Technologies.

      The Ackerley Group, which is celebrating its 25th Anniversary, is comprised of four operating segments, containing a total of 31 independent media and entertainment operations. The Outdoor Media segment includes outdoor advertising in Seattle and Tacoma, Boston, New Jersey and New York City, and Portland, Salem and Eugene, Ore. The Television Broadcasting segment owns, or operates under management agreements, 18 stations in California, New York, Washington, Oregon and Alaska. The Radio Broadcasting segment owns or operates five radio stations in the Seattle-Tacoma market. The Sports & Entertainment segment includes Full House Sports & Entertainment, the NBA's Seattle SuperSonics and the WNBA's Seattle Storm. For more information, visit The Ackerley Group Web site at www.ackerley.com.


      CONTACT: media, Chad Mizee of MWW/Savitt, 206-689-8505, for The Ackerley Group; or analysts, Dan Evans, Jr., Vice President Public Affairs of The Ackerley Group, 206-624-2888; or Michael Lendener of The MWW Group, 212-704-9727, for The Ackerley Group.

      The Ackerley Group

      CONTACT: media, Chad Mizee of MWW/Savitt, 206-689-8505, for The Ackerley Group; or analysts, Dan Evans, Jr., Vice President Public Affairs of The Ackerley Group, 206-624-2888; or Michael Lendener of The MWW Group, 212-704-9727, for The Ackerley Group/ /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/19990708/AKLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or 201-369-3467/ /Web site: http://www.ackerley.com/ (AK)