TV One (www.tvone.com), a global equipment supplier with U.S. offices in Erlanger, KY, has sold its assets to Nortek, Inc., a diversified global broadcast and professional production equipment manufacturer. The sale includes all TV One related, wholly owned companies in the U.S., UK, Taiwan and China. TV One will be included in Nortek's Technology Products segment and closely aligned with Magenta Research LTD. The all-stock transaction was completed on April 28, 2011, although no financial details were available.
Magenta Research CEO Keith Mortensen said that TV One fits nicely into Nortek's pro AV strategy. Magenta plans to leverage TV One's global sales network in order to enhance the market penetration of our products. The recent introduction of Voyager, Magenta's all-format fiber-optic-based signal distribution platform, expands its infrastructure product range and is a perfect match with TV One's new video processing range.
At the upcoming InfoComm Show (Booth #3601), TV One will launch new technology and an enhanced product range that it said would unveil a new era for TV One — as part of the Nortek family of companies. This includes solutions that combine TV One's CORIO scaling technology with Nortek's Magenta Research division products. CORIO technology was initially developed as a high-quality method of computer-to-video scan conversion before third-party video scaling chipsets were on the market. The technology has been extended onto 3-D signal processing. TV One also offers the ability to insert picture-in-picture windows of 2-D images, such as logos and computer graphics, so that they appear "floating" in front of a background 3-D video source.
In November 2009, USA, Nortek (NTK Holdings Inc.) filed for Chapter 11 bankruptcy protection after agreeing the restructure plan with $2.78 billion of creditors.