Archives

Date

Sega and Rival Namco in Talks Concerning Possible Merger

Authored by Mark Hefflinger on April 17, 2003 - 1:52am.
Tokyo -- Japanese game maker Sega Corp. and rival Namco Ltd. announced on Thursday that they are in discussions concerning a possible merger that would create Japan's biggest game software company. Namco, known for its "Tekken" fighting games, has reportedly presented Sega with a proposal, which calls for a merger as early as the beginning of 2004, with Sega being the surviving entity. Sega, which abandoned its Dreamcast console two years ago to focus on making games, said the offer was being studied along with a proposal announced in February to integrate its operations with Sammy Corp., a Japanese company that makes pachinko, a popular pinball game in Japan. Sega would not say when a decision can be expected. In trading on the Tokyo Stock Exchange on Thursday, Sega's shares soared 15% and Namco's shares climbed 1.3%.
tags: Sega | Possible Merger | Rival Namco |

Apple Denies Making Offer For Vivendi Universal's Music Division

Authored by Mark Hefflinger on April 17, 2003 - 1:51am.
Paris -- Refuting various media reports, Apple Computer's CEO Steve Jobs said that his company has made no offer to invest or acquire Vivendi Universal's music division. However, Jobs did not deny that the two companies were currently in talks, or that an offer could be made within the next few weeks. Jobs' comments come in the wake of intense media speculation this week, sparked by comments by Vivendi board member Claude Bebear, who said that Apple would "probably" make a $6 billion bid for the music division. Vivendi later denied that Bebear had revealed negotiations with Apple.
tags: Apple | Vivendi | Denies | Universal's Music |

Vivendi Says USA Interactive Lawsuit Is "Without Merit"

Authored by Mark Hefflinger on April 17, 2003 - 1:50am.
Paris -- Vivendi Universal said on Thursday that a lawsuit filed earlier this week by USA Interactive is "without merit". In a statement, Vivendi said that the USA Interactive lawsuit was filed to gain leverage in the negotiations regarding Vivendi's ongoing asset disposal program, but that the lawsuit will not interfere with the program. "Vivendi Universal continues to focus on returning to an investment grade credit profile during the first half of 2004 by continuing to reduce the company's leverage," the company said.
tags: USA | Vivendi | lawsuit | Without Merit |

Liquid Audio Announces Board Changes; Will Pursue New Line of Business

Authored by Mark Hefflinger on April 17, 2003 - 1:48am.
Redwood City, Calif. -- Liquid Audio, which effectively ceased operation in January after agreeing to sell its assets and pay shareholders a cash distribution, announced on Thursday that Seymour Holtzman and James Mitarotonda have been named co-chairmen and co-chief executives. Holtzman and Mitarotonda, who joined the board in early November, replace CEO Raymond Doig and President Stephen Imbler, who handed in their resignations in early April. The Redwood City-based digital media company also announced that William Fox, Michael McManus Jr. and Jesse Choper will join the board; Mel Brunt was named chief financial officer and corporate secretary. Dow Jones reported that Brunt said Liquid Audio is "regrouping, and plans to pursue a different, yet to be determined line of business." The company's stock recently traded on Nasdaq at 30 cents.
tags: Business | Board | Liquid Audio | Pursue |

Survey: Internet Penetration in U.S. Flattens

Authored by Mark Hefflinger on April 17, 2003 - 1:48am.
Washington, DC -- According to a new survey, the rate of Internet penetration in America has stayed roughly the same since late 2001, hovering between 57-61%. Though the numbers had climbed steadily in prior years, the DC-based Pew Internet & American Life Project said that there are several possible explanations for the trend, including the number of people dropping offline roughly equaling the number of newcomers and financial concerns due to the sluggish economy. The organization also offers another explanation: "It may be that we have reached a point where the adoption curve has peaked and the market is no longer working to bring online new groups of Internet users." Roughly 42% of Americans say they currently do not use the Internet.
tags: Internet | U.S | Survey | Flattens |