Chyron Online Launch

Chyron has announced a powerful and innovative change in how graphics can be created for digital video and the Internet with the launch of Chyron Online. The foundation for this new division is today's acquisition of AXIS Graphics www.axisgraphic.tv a unique proprietary web-based graphics system that has pioneered online graphics production.
Chyron and AXIS bring innovation to graphics creation workflow and production - and most importantly, the ability for clients to reduce costs. The combined organization allows clients to be more competitive with the ability to produce higher quality graphics, faster.
"Chyron Online now significantly expands Chyron's core addressable markets beyond the traditional broadcast arena, to include websites, newspapers, radio stations, mobile phones and digital signage globally," commented Chyron CEO Michael Wellesley-Wesley.
Chyron Online will provide an array of web-based services customized to each client's unique brand - a technology unavailable anywhere else in the world. Those services include high resolution Maps, Real-Time Weather Displays, 3D Charts & Graphs, Financial Quotes and a virtually unlimited set of tools to create topical News Graphics.
"The acquisition of AXIS Graphics will enhance Chyron's business around the world. Not only does the AXIS technology integrate with our popular broadcast products, it instantly expands our reach to include non-broadcast clients like newspapers, radio stations, mobile phone and digital media producers and anyone producing content for the Internet.
"Chyron invented broadcast graphics and I believe that in the future this will be viewed as a major milestone in the development of digital graphics creation and workflow.
"We launch our Online division with over 150 television station clients and with AXIS we are able to address a wide array of new growth markets around the world," added Wellesley-Wesley.
Randy Pyburn, AXIS Graphics Founder, added: "We are thrilled to be joining the Chyron organization.
"This is not only a great marriage of technologies; it will change how people build graphics for television and the Internet. Chyron is the industry leader for broadcast graphics and this technology partnership takes the AXIS service to the next level by providing a one-stop seamless platform to create, composite and distribute graphic content over the Internet for traditional and new media markets, and better yet, we will save our clients money. This is an awesome combination that is a game changer for the industry."
Under the asset purchase agreement, Chyron acquired assets and liabilities of AXIS Graphics for an aggregate consideration of $3 million consisting of $1 million cash, $1 million worth of restricted common stock resulting in the issuance of 195,313 shares, and a $1 million debenture due December 31, 2008.
(DS)