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Cablevision investing in Princeton Video

Cablevision Systems Corp. is investing $17.5 million in Princeton Video Image to gain access to PVI's digital technologies.

The two companies have struck a strategic alliance, with Cablevision investing $10 million in PVI in exchange for four million shares of PVI common stock. Cablevision also receives three-year warrants, with PVI shareholder approval, that will enable it to acquire up to 45% of PVI's stock. And Cablevision gains a non-exclusive license to PVI's technology as the two companies co-development new products, including technology to deliver targeted ads over Cablevision digital set-tops.

PVI specializes in creating computer-generated electronic images in TV broadcasts of sporting events and other programming. - Richard Tedesco