On Command Corporation Completes Acquisition of SpectraVision; New Public Company Lists on Nasdaq as 'ONCO'

SANTA CLARA, Calif., Oct. - On Command Corporation, a new public company, has concluded its acquisition of SpectraVision, Inc., making On Command the world's largest provider of in-room entertainment and information services to the hotel industry. On Command Corporation combines the SpectraVision assets with On Command Video Corporation to create a hotel video distribution system of more than 900,000 rooms and 100 million annual viewers. The company will trade on the Nasdaq exchange under the ticker symbol "ONCO."

Led by former AT&T and Creative Artists Agency new media executive Bob Kavner as its president and CEO, On Command Corporation will offer a variety of interactive video entertainment and information services primarily to business and luxury class guest rooms, including video-on-demand, Sony PlayStation(TM) video games, DSS(TM) digital satellite service and the Bell Atlantic InfoTravel(TM) interactive concierge. It is based in Santa Clara, California.

"On Command's advanced technology, large viewing audience and superior demographics give it the scale and resources to provide hotel guest room viewers the programming they want and need today," said Kavner. "On Command is positioned to be in the vanguard of interactive programming developments -- offering breakthrough new media applications to hotel guests before they reach large scale residential markets."

As the head of On Command Corporation, Kavner will focus on the integration of the two companies and developing a long-term strategic plan that will enhance On Command's leadership position in on-demand programming by developing new products and services targeted at the hotel industry and other multi-unit environments, such as apartments. Before joining On Command in mid-September, Kavner headed his own consulting firm specializing in broadband and Internet on-demand ventures. Prior to that he spearheaded Creative Artist Agency's communications industries consulting practice and served as CEO of AT&T's MultiMedia Products and Services Group.

As of June 30, 1996, On Command Video served approximately 419,000 hotel rooms and SpectraVision, Inc. served approximately 495,000 hotel rooms. A registration statement filed with the SEC for On Command Corporation became effective Monday, October 7.

On Command Corporation was created by Ascent Entertainment Group, Inc., a Denver-based media and entertainment company GOAL that owned approximately 80 percent of On Command Video Corporation. Ascent will continue to own approximately 57.2 percent of the new On Command Corporation. The SpectraVision bankruptcy estate will receive 27.5 percent of On Command Corporation's common stock, distributed through the court-approved bankruptcy plan to SpectraVision's creditors and resolving claims of approximately $600 million. On Command Corporation will issue warrants, equal to 20 percent on a fully-diluted basis, to shareholders of On Command Corporation which will be traded on the Nasdaq exchange under the ticker symbol "ONCOW."

Ascent Entertainment Group's principal business is providing pay-per-view entertainment and information services through its majority-owned On Command Corporation. Ascent owns and operates additional entertainment-related businesses, including the NHL Stanley Cup Champion Colorado Avalanche, NBA Denver Nuggets and Beacon Communications, a motion picture and television production company.

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