SeaChange International Inc. said it was served today with a proposed securities class action lawsuit alleging that the video-on-demand and digital ad-insertion vendor presented "materially inaccurate" information in a prospectus the company issued in connection with a secondary stock offering completed in January 2002.
Two of the top executive spots at interactive guide provider Gemstar-TV Guide have new people filling the posts, and the news was made official today. Out is Dr. Henry Yuen, a former patent attorney and co-founder of the company who has held the chairman and CEO top spot since August 1994. Also out is Elsie Leung, the company's chief financial officer.
Broadband communications gear maker C-COR.net Corp. has revised its previous guidance for the current quarter, and announced that it expects to see a wider than expected loss. The company said it expects net sales for the second quarter of fiscal year 2003 to be between $49 million and $53 million, revised downward from previous estimates.
Penn State University has contracted Adelphia Business Solutions to upgrade its high-speed, point-to-point connection between its University Park campus and a major Internet point of presence located in Pittsburgh. ABS upgraded two OC-3 connections it had previously installed to an OC-12, which is being installed this month.
Until today, broadband service providers went to multiple companies for intelligent service software. Now, it seems, providers will have a one-stop shop for software that automates the installation, activation, provisioning and diagnostic portions of their broadband network elements. Motive Communications and BroadJump Inc.
IMAKE Software and Services has released e.merge v.3.5, a software bundle that handles workflow automation for the distribution of digital media assets. The company said that the new 3.5 version of VOD "pitcher-catcher" software complies with Time Warner Cable's ISA (Interactive Service Architecture) specification and CableLabs' recently released Asset Distribution Interface 1.
Although a sexy new service like video-on-demand grabs plenty of cable headlines, it's sometimes easy to forget that some cable operators are still moving ahead swiftly with telephony services. Among the latter, Cox Communications announced today that it has renewed its contract with Arris to support the MSO's national cable telephony efforts.
Cablevision Systems Corp. said it added 107,000 new modem and digital service customers in the third quarter, marking a record quarterly gain. At the end of the period, the MSO had signed up a total of 680,000 cable modem customers and 80,400 customers to its iO: Interactive Optimum digital video service, up 88 percent.
Copyright 2002 / Los Angeles Times Los Angeles Times…11/07/2002 Adelphia Communications Corp. sued its former accountants Wednesday, accusing Deloitte & Touche of failing to report "self-dealing and financial chicanery" by founder John Rigas and family members that sent the cable television company spiraling into Bankruptcy Court.
Copyright 2002 P.G. Publishing Co. Pittsburgh Post-Gazette…11/07/2002 Cell phones, remote controls, wireless radios — can't they all just get along? Federal regulators believe so, and they are expected today to launch a sweeping examination of the government's management of the nation's valuable airwaves, a move that could pave the way for cheaper and more innovative wireless devices.
Lufthansa and Boeing have collaborated to successfully send the first e-mail via a broadband Internet connection from onboard a scheduled commercial airliner. On Friday, Oct. 25, aboard a Lufthansa 747-400, members of the Lufthansa and Connexion by Boeing project team simultaneously activated the onboard system and the satellite network.
Concurrent Computer Corp. said it will introduce "integrated solutions" for interactive television and video-on-demand for telco carriers this week at the Telco TV Conference & Expo, being held in New Orleans. The products are the result of Concurrent's partnership with Thirdspace Living Limited, a supplier of video server system software for DSL-based VOD services.
Cable operators continue to have their core video business pressured through competition from DBS providers, but should they be looking over their shoulders at their telco competition, as well? So far, the most prominent deployment of digital television services over telco infrastructure in the U.S. has been to about 50,000 Qwest customers in Phoenix, Ariz.
Cablevision Systems Corp., under possible funding gap pressure, said Quadrangle Capital Partners has agreed to invest $75 million in the MSO. Convertible into Cablevision Class A shares, Quadrangle's investment is subject to approval by Cablevision's board. Upon the investment's closing, Steven Rattner, a managing principal of Quadrangle Group, will join Cablevision's board of directors.
8x8 Inc. unveiled Packet8, a telephone service that enables broadband Internet users to add digital telephone service in their homes. Packet8 offers several service plans, starting at $5.95 per month, that give subscribers unlimited telephone calls between Packet8 subscribers, voicemail, Web-based account management, bundled long distance minutes and features such as caller ID and call forwarding.