LAKE PLACID, NY ??вЂќ Prime Rate Investors, Inc. (OTC.PK: PRRM) announced its wholly owned subsidiary Adirondack TV-33 signed an exclusive production contract with the Olympic Regional Development Authority (ORDA) of the State of New York. ORDA was created to “manage and promote the facilities of the 1980 Olympics,” receiving $70 million for its mission under Governor George Pataki alone.
ORDA is the governing authority of Whiteface Mountain and Gore Mountain ski resorts, in addition to the Verizon Sports Complex, the Olympic Center and the MacKenzie-Intervale Ski Jumping Complex in Lake Placid, the “Winter Sports Capitol of the World” and host of the 1932 and 1980 Winter Olympics. Each year thousands of winter athletes train and compete in Lake Placid in every winter Olympic sport. This winter season marks the 25th anniversary of the 1980 Olympics, and ADK TV-33 is charged with ORDA events coverage, promotional video and spot advertisements and special news events segments to be featured on major networks nationwide. At 3:00 PM today WCAX in Burlington will broadcast a five minute segment featuring Whiteface Mountain. The feed is scheduled to be picked up by the Weather Channel throughout tonight.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company’s strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Based in Stowe, Vermont, its wholly owned subsidiaries include: High Angle Media, Inc., a video production company and Stowe TV-10 and ADK TV-33, RSN network affiliated cable broadcast companies.