National Video Inc said it entered an agreement with Univisa Inc for the development of 600 National Video franchised stores in Hispanic communities by 1992. Univisa a Spanish-language group with interests in television cable program distribution news services and records will translate the National Video System into Spanish and market the franchises. National Video currently operates 700 stores. Franchises sell for 14900 dlrs to 29900 dlrs and require an initial investment of 100000-389000 dlrs it said. Under terms of the agreement Univisa is to sell not less than 600 National Video franchises to open by December 31 1992. Subject to board approval National Video will grant options to Univisa to buy up to 200000 shares at six dlrs per share by April 1 1990 and an additional 160000 shares at nine dlrs per share by April 1992. In related agreements National Video agreed to distribute Univisa Spanish video tapes and promotional materials distributed by of such video cassettes and will buy advertising on Univisas national television network and on local Spanish language television stations.
NATIONAL VIDEO <NVIS>, UNIVISA IN AGREEMENT