Broadband Briefs for 8/08/08
• CMC to demo ETV apps on HITS AxIS at CableLabs conference
The Comcast Media Center (CMC) will provide a live demonstration of enhanced television (ETV) applications running on its HITS Advanced Interactive Services (AxIS) platform at the CableLabs Summer Conference, being held Aug. 10-13 in Keystone, Colo.
The ETV applications, which are being hosted at the CMC, will be delivered via VPN to the headend for Comcast Cable’s Summit County cable system, which will transport the applications to the Keystone Convention Center over its local network, representing the first end-to-end delivery of an iTV application using the HITS AxIS platform, the company said.
The applications will be running on Motorola and Pace set-top boxes and may be seen at the Pace and Vidiom exhibits in the Keystone Convention Center, the company said.
• Sprint no longer pursuing stock deal
By Traci Patterson
Sprint Nextel is no longer pursuing the private placement of cumulative perpetual convertible preferred stock.
The company said that it decided to cancel the offering “because the terms being offered were not economically attractive due to unfavorable market conditions.” But Sprint Nextel remains committed to paying down debt and strengthening its balance sheet.
In conjunction with reporting its second-quarter results earlier this week, Sprint announced that it was set to offer approximately three million shares of cumulative perpetual convertible preferred stock through an offering within the U.S. to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Sprint said that its intention was to use the net proceeds of this offering for general corporate purposes.
• OpenTV boosts revenue in Q2
By Traci Patterson
OpenTV reported total revenues of $26.8 million in its second quarter, marking a 17 percent increase year-over-year.
The company said that net income for the second quarter of 2008 was breakeven, compared with a net loss of $4.8 million, or 4 cents per share, in the second quarter of 2007.
”Our financial results for the second quarter and first half of 2008 demonstrate the successful execution of our plan to grow our core business while improving costs and profitability,” said OpenTV CEO Ben Bennett. “We have continued to grow our global middleware market share as we work to deepen relationships with existing customers, as well as acquire new customers and enter new markets, including a recent significant customer win in Japan. On the advanced advertising side, our EclipsePlus product is beginning to be deployed by leading operators. Overall, we are on track with our plans for the year.”
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