Princeton Video Image

(PVII)

rose 21.1% in preopen

Island

trading after announcing an alliance with

Cablevision

(CVC)

.

Cablevision will invest $10 million in PVI in exchange for 4 million shares and will receive warrants allowing it raise its stake to 45%.

PVI, which develops virtual advertising technology for television, will give Cablevision early access to its products.