Archives

Bronfman Group Seals $2.6 Billion Warner Music Buy; Hilfiger Invests $25M

Authored by Mark Hefflinger on March 1, 2004 - 7:24am.
New York -- Time Warner announced on Monday that it has completed the sale of its Warner Music Group record label division to an investor group led by Thomas H. Lee Partners, Edgar Bronfman, Jr.'s Music Capital Partners, Bain Capital and Providence Equity Partners, for $2.6 billion in cash. Under the terms, Time Warner retains the right to buy up to 19.9% of the company under certain circumstances. "Over the past several weeks, members of the investor group and I have been working very closely with WMG's senior management, and we intend to move quickly to implement a strategy that will enable the company not only to meet the challenges of the current environment, but also to take full advantage of future opportunities," said Edgar Bronfman, Jr., the new chairman and CEO of Warner Music Group. Sources told The Los Angeles Times that Bronfman plans to lay off 20% of Warner Music Group's 5,300 employees in a restructuring aimed at saving the company an annual $200 million. Also, The New York Post reported on Monday that clothing retailer Tommy Hilfiger has invested $25 million in the new company.
tags: Warner | Musics | Bronfman Group | Hilfiger |

Appeals Court Rules DeCSS Code Free Speech in Trade Secret Case

Authored by Mark Hefflinger on March 1, 2004 - 7:23am.
San Jose, Calif. -- A California appeals court has overturned a 1999 ruling that banned publication of computer code that can crack the encryption security on DVD movies, saying that the ruling was unconstitutional in that it violated First Amendment free speech protections. California's Sixth Circuit Court of Appeals ruled on Friday that the DVD Copy Control Association's CSS code was in fact no longer a "trade secret" -- as it was commonly available on the Internet -- when defendant Andrew Bunner published the DeCSS code that may be used to defeat it online. The case deals with a specific instance of publication and California's trade secret laws, and does not make it legal to publish DeCSS online. "The Court of Appeals correctly recognized the obvious conclusion that information that is in the public domain and that has been republished for years around the world can't be a trade secret," said Bunner's attorney, Richard Wiebe.
tags: Law | Appeals | DeCSS Code | Secret Case |

Disney Licenses Acacia Research Patent on Streaming Media

Authored by Mark Hefflinger on March 1, 2004 - 7:22am.
Newport Beach, Calif. -- Acacia Research, a company claiming to hold a patent that covers basic streaming media technology, announced last week that it has entered into a license agreement with Disney Enterprises, for use of its "Digital Media Transmission" technology on Disney, ESPN and ABC News websites. Many experts have doubted Acacia's patent claim on technology commonly used to deliver audio and video on the Internet, but a growing number of companies have licensed the technology rather than battle the company in court. Although Newport Beach, Calif.-based Acacia has mainly targeted smaller webcasters and adult entertainment providers with their licensing activities, the company said it has now entered into 116 license agreements for its technology with companies in the hotel in-room entertainment, e-learning, and online music, movie, sports, news, information and adult entertainment industries. These other licensees include Radio Free Virgin, LodgeNet and Vivid Entertainment.
tags: Disney | Streaming Media | Acacia Research |

Rockstar Games Sets October Release for "Grand Theft Auto: San Andreas"

Authored by Mark Hefflinger on March 1, 2004 - 7:21am.
New York -- Rockstar Games, the video game publishing unit of Take-Two Interactive responsible for the "Grand Theft Auto" franchise, announced on Monday that it will release the next game in the series, "Grand Theft Auto: San Andreas" for PlayStation 2, on Oct. 19 in North America and Oct. 22 in Europe. New York-based Rockstar said that over 30 million units of the Grand Theft Auto franchise have been shipped to date, including over 11.5 million units of "Grand Theft Auto: Vice City" and over 10.5 million units of "Grand Theft Auto 3." The games have also been a continuous source of controversy for their violence, prompting an outright ban in Australia, protests over the treatment of Haitians within the game, and impetus for U.S. lawmakers in several states to attempt to impose penalties on the sales of such games to minors.
tags: Games | Grand Theft Auto | Rockstar | Releases |

Search Engine Contextual Ad Developer Quigo Raises $5 Million

Authored by Mark Hefflinger on March 1, 2004 - 7:20am.
New York -- Quigo Technologies, a developer of search engine marketing technologies including contextual advertising solutions, announced on Monday that it has raised $5 million in its first round of funding, from Highland Capital Partners. In connection with the funding, Lycos founder Bob Davis, now with Highland Capital, will take a seat on Quigo's board of directors. New York-based Quigo's products AdSonar and FeedPoint are used by partners including Overture Services and AltaVista to provide publishers and advertisers with more precise methods of targeting consumers with the ads they place on Internet search engines. The company will use the funds to support growth and the continued research and development of its search and contextual advertising technologies.
tags: VC | Contextual | Search Engine | Quigo |

Disney Mobile to Offer Content to Vodafone Subscribers in 14 Countries N

Authored by Mark Hefflinger on March 1, 2004 - 7:19am.
orth Hollywood, Calif. -- Walt Disney Internet Group on Monday announced an agreement with wireless network operator Vodafone, to provide Disney Mobile services to Vodafone customers in 14 international markets. Disney-branded content -- based on both live-action and animated properties -- including logos, wallpapers, animated wallpapers and mobile games will now be available to Vodafone subscribers in Australia; Egypt; Germany; Greece; Hungary; Ireland; Italy; Malta; The Netherlands; New Zealand; Portugal; Spain; Sweden and Switzerland.
tags: Subscribers | Disney Mobile | Vodafone | Countries N |

Digital Camera Sensor Maker IC Media Raises $22.5 Million

Authored by Mark Hefflinger on March 1, 2004 - 7:18am.
Santa Clara, Calif. -- IC Media, a manufacturer of digital camera sensors used in mobile phones, announced on Monday that it has raised $22.5 million in its third round of venture capital financing, led by UMC Capital. In addition to cell phones, Santa Clara, Calif.-based IC Media's CMOS digital sensors are also used in digital still cameras, PC cameras, digital camcorders, toys, surveillance systems, environmental monitors and applications for the automotive, medical and industrial markets. The company will use the funds to accelerate its production process, as well as for general corporate purposes.
tags: VC | Digital Camera | IC Media |