SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT - FEBRUARY 29, 1996
(Date of Earliest Event Reported)
CHYRON CORPORATION
(Exact name of registrant as specified in its charter)
New York 1-9014 11-2117385
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation Identification No.)
5 HUB DRIVE
MELVILLE, NEW YORK 11747
(Address of Principal executive offices)
Registrant's telephone number, including area code: (516) 845-2000
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ITEM 5. OTHER EVENTS
On February 29, 1996, Chyron Corporation, a New York
Corporation ("Chyron"), acquired shares of preferred stock (the
"Preferred Stock") of R.T.-Set Real Time Synthesized
Entertainment Technology Ltd., an Israel corporation ("RT
Set"), which shares are convertible into 19% of the issued and
outstanding Common Stock of RT Set, par value 1 NIS per share.
Chyron purchased the Preferred Stock in exchange for 2,400,000
shares of Chyron Common Stock. This exchange was made pursuant
to an agreement (the "Agreement"), dated as of February 2,
1996. Pursuant to the Agreement, Chyron retains an option to
increase its equity position in RT Set to up to 51% of RT Set's
Common Stock, in exchange for additional shares of Chyron
Common Stock.
RT Set develops, markets and sells real time virtual studio set
software and proprietary communications hardware that operate
on Silicon GraphicsTM systems. RT Set's products were exhibited
at the April 1995 National Association of Broadcasters
Convention (NAB) in Las Vegas and at the September 1995
International Broadcast Convention (IBC) in Amsterdam. In
November 1995, RT Set initiated customer site demonstrations
both in the United States and overseas.
Chyron will assist in marketing, sales and distribution of RT
Set's Virtual Reality Studio Systems alongside RT Set's own
specialized sales terms. Chyron will also provide
infrastructure for installation, service and support functions
on a worldwide basis.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
CHYRON CORPORATION
By: /s/ Patricia Lampe
Name: Patricia Lampe
Title: Chief Financial Officer
and Treasurer
Date: March 14, 1996
