Digital-recorder-maker TiVo Inc. has signed an agreement to sell investors $25 million in common stock. Investors Crosslink Capital and New Enterprise Associates have agreed to purchase 6.96 million TiVo shares at $3.59 a share. TiVo plans to issue warrants to purchase 2.6 million shares at an exercise price of $5.
Less than two weeks after announcing its plan to buy Wink Communications, OpenTV has closed the deal. OpenTV picked up the interactive television company from Liberty Broadband Interactive Television for $101 million, the exact amount Liberty Broadband recently paid to acquire Wink. Liberty Broadband bought a controlling interest in OpenTV in May.
Copyright 2002 Globe Newspaper Company The Boston Globe…10/07/2002 From LexisNexis The number of U.S. telecommunications sector employees thrown out of work in the third quarter of this year fell 52 percent from the previous quarter, helping drive a 31 percent overall drop in technology job cuts, according to a new survey by Challenger, Gray & Christmas, the Chicago consulting firm th...
Video-on-demand server systems startup Broadbus Technologies Inc. has received a $12 million shot in the arm. Comcast Interactive Capital participated in the Series A-1 round of financing. Broadbus came onto the VOD scene in 1999. The company, which has not announced when it will begin market trials, plans to offer a VOD system powered by its B-1 Streaming Media Server family.
Terayon Communication Systems Inc. has planted another seed in digital video management system product garden. The latest: Terayon is demonstrating its DM 6400 Network CherryPicker. The DM 6400 is designed to enable cable operators to deliver four high-definition television programs in one channel at 256 QAM (Quadrature Amplitude Modulation) through rate shaping.
Universal Studios Pay-Per-View has turned to CinemaNow Inc. to test the waters for downloading and streaming its content. During a four-month trial, CinemaNow will offer first-run and catalog Universal titles via its video-on-demand Web site www.cinemanow.com. The titles will be available in streaming and download formats.
The Street was relatively unmoved by Com21 Inc.'s announcement that its third-quarter guidance will fall in line with previous estimates. The company's shares were up a penny in early trading. The broadband access systems provider expects Q3 revenue to fall in the range of $11 million to $12 million, which meets an earlier guidance of between $10 million and $13 million.
Copyright 2002 The Deal L.L.C. The Daily Deal…10/04/2002 From LexisNexis Struggling Canadian telecom equipment maker Nortel Networks Corp. said Thursday it would shift its organization into these four business groups in an attempt to streamline: wireless, wireline, enterprise and optical networks.
Alpha Technologies Inc. is trying to give a little back to the industry through a $500,000 donation to The Cable Center. The company has donated the money to The Center's Telecommunications Equipment Campaign. The Cable Center has a goal of raising $10 million to purchase audio and video equipment and other technological equipment.
National broadband service provider Speakeasy is launching another promotion to attract customers. The latest: the company is giving a free iPod to every new business DSL or T-1 subscriber. The MP3 player holds 1,000 songs and has a battery life of 10 hours. "This promotion allows us to introduce new customers to our broadband services and to a device and passion that is such a natural extensio...
The latest WebSTAR cable modem offering from Scientific-Atlanta Inc. will upgradeable to DOCSIS 2.0, the company says. The WebSTAR DPX2100 will be upgradeable to DOCSIS 2.0 via a software download, according to S-A. The DPX2100, which recently received DOCSIS 1.1 certification, incorporates the Broadcom BCM3348 DOCSIS/Euro-DOCSIS 2.
On October 30 the United Kingdom will get another choice in digital television thanks to a partnership between the BBC, Crown Castle International and BSkyB. The free-to-view digital service, dubbed Freeview, will offer viewers up to 30 digital television channels, interactivity and digital radio through a rooftop aerial via a digital terrestrial television.
The fat lady may be about to sing at Teledesic LLC. The satellite communications services company has put the brakes on its global, broadband Internet-in-the-Sky satellite communications network. Over the past 10 years, Teledesic has invested hundreds of millions of dollars on design and development of the network.
Copyright 2002 Newsday, Inc. Newsday (New York, NY)…10/03/2002 From LexisNexis Cablevision Systems Corp. ranks among companies most likely to run out of cash in the next 12 months, Moody's Investors Service said yesterday in unveiling a new ranking system. The new ratings of liquidity are separate from Moody's bond ratings, which already gave Cablevision bonds junk status.
Two of Spain's broadband companies have named Motorola Inc. Broadband Communications Sector as a key technology provider. ONO has inked a deal to purchase customer premise equipment and conditional access technology from Motorola. The service provider plans to deploy Motorola's DVi3000 and DVi3500 digital set-tops early next year.