CARLSBAD, Calif. -- Trident Media Group, Inc. (OTC BB: TDNT) has announced the closing of the acquisition of all of the outstanding and issued capital stock of On Track, Inc. (OTI) effective 24 June 1998.
On Track, based in Ruidoso, New Mexico, primarily provides television production and related services to the wagering industry for clients in the southwest. OTI additionally has exclusive contracts with certain cable systems throughout New Mexico to provide cable advertising, advertising insertion services, and local origination cable channels. In connection with the acquisition, OTI entered into an employment agreement with the founder of the company to continue to operate the newly acquired Trident subsidiary.
OTI, together with Steinley's Photochart Systems, recently acquired by Trident in April of 1998, and Spector Entertainment Group, a wholly owned subsidiary of Trident, currently constitute the company's network Services Group. Trident's vast infrastructure, operations experience, equipment and systems, service a variety of clients in the wagering industry including casinos, tribal gaming facilities, card rooms, horse and greyhound racing facilities, jai-alai fronton's and off-track betting facilities. The company intends to expand the range of services offered by OTI, leveraging its equipment and infrastructure to service other markets and industries, as well as supplement its operations with new services including photofinish, timing systems, event photography, and closed circuit television services.
"Completing the OTI acquisition enables Trident to solidify its presence in the Southwest, particularly in New Mexico, where the Company has been providing broadcasting and simulcast services for horse racing facilities with its Spector Entertainment subsidiary," said Trident Chairman and CEO Edward M. Spector. "The OTI acquisition provides the company with a strong base of clients in the wagering industry, such as the famed quarterhorse facility Ruidoso Downs, and a substantial presence servicing the cable industry in New Mexico, providing advertisement insertion services for a variety of cable systems. Trident is looking forward to enhancing OTI's presence, particularly by offering additional services and systems to its existing clients."
Trident Media Group is a leading provider of integrated telecommunications, television production, and related services to the entertainment, sports, and wagering industries. The company's services include mobile satellite and television production facilities, post-production, closed circuit television, satellite leasing, program syndication and telephone services.