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Motorola, Agile TV Developing Voice Command-Activated Set-Tops

Authored by Mark Hefflinger on April 30, 2004 - 4:06pm.
Horsham, Penn. -- Motorola announced that it has partnered with speech software maker AgileTV to develop digital TV set-top boxes that respond to voice commands. A remote control with an integrated microphone allows users to navigate the interactive program guide and on-demand services using phrases like "Find The Sopranos," "Scan Sitcoms" or "Find Movies with Julia Roberts." Menlo Park, Calif.-based AgileTV's software recognizes over 100,000 phrases and deciphers multiple languages, and was recently field tested on Motorola DCT2000 set-tops with USA Media cable TV subscribers.
tags: Motorola | Agile TV | Developing Voice Command-Activated Set-Tops |

Digital Recorders Inc. Raises $5 Million

Authored by Mark Hefflinger on April 30, 2004 - 3:51pm.
Durham, N.C. -- Digital Recorders, a provider of digital communications and audio technology for the transportation and law enforcement markets, has raised $5 million in a private placement of stock with a group of institutional investors. The North Carolina-based company sold 625,000 shares of common stock for $8.00 a share.
tags: VC | Digital Recorders Inc |

LGBT Internet Network PlanetOut Files For $75 Million IPO

Authored by Mark Hefflinger on April 30, 2004 - 3:11am.
San Francisco, Calif. -- PlanetOut Inc., an Internet media company focused on the lesbian, gay, bisexual and transgendered community, has filed registration papers to raise $75 million through an initial public offering (IPO) of its stock. The company said it has a community of 3.3 million active members. It operates a network of websites, including Gay.com, PlanetOut.com, Kleptomaniac.com and Out and About travel.
tags: Internet | VC | IPO | PlanetOut | LGBT |

Senate Judiciary Passes Intellectual Property Bills

Authored by Mark Hefflinger on April 30, 2004 - 3:07am.
Washington -- The U.S. Senate Judiciary Committee on Thursday approved a number of intellectual property-related bills, which will now be voted on by the entire Senate. Among them is a bill that would make it a crime to bring a camcorder into a movie theater for the purpose of pirating a movie; a similar bill passed in California saw its first arrests earlier this month and charges filed on Thursday. Another bill would expand the authority of the U.S. Justice Dept. in copyright infringement prosecutions, enabling it to file civil lawsuits against suspected pirates instead of solely criminal charges.
tags: Law | Senate | Intellectual Property Bills |

Gaming TV Network EdgeTV Raises $10 Million, Plans 2005 Launch

Authored by Mark Hefflinger on April 30, 2004 - 3:03am.
Los Angeles -- EdgeTV, a new 24-hour cable TV network dedicated to gaming -- both casino gambling and other activities like sports betting, fantasy sports and bridge -- announced on Friday its plans to launch in the first quarter of 2005. The venture is launching with $10 million in seed capital and will be led by Dallas-based legal entrepreneur Reagan Silber and Silicon Valley entrepreneurs and executives Keith Richman and Charles Katz. The company said it is negotiating to host its production and broadcast operation within a major Las Vegas casino. EdgeTV will feature 70% original and 30% acquired programming, and will be advised by Creative Artists Agency (CAA). The network also plans video-on-demand and interactive TV services, which among other things will teach viewers the basics and nuances of a variety of games.
tags: Games | Deals | VC | Edge TV |

Google Files for $2.7 Billion IPO

Authored by Mark Hefflinger on April 29, 2004 - 3:31am.
Mountain View, Calif. -- Search engine giant Google on Thursday announced that it plans to raise as much as $2.7 billion in an initial public offering of shares, according to documents filed with the U.S. Securities and Exchange Commission (SEC). The company did not announce a date for the offering, or whether it would be on the Nasdaq or New York Stock Exchange, but did reveal that it would offer shares via an online auction to level the field between large and small investors. "It is important to us to have a fair process for our IPO that is inclusive of both small and large investors," said Google co-founders Sergey Brin and Larry Page. "Many companies have suffered from unreasonable speculation, small initial share float, and boom-bust cycles that hurt them and their investors in the long run. We believe that an auction-based IPO will minimize these problems." In the SEC filing, Google said that its 2003 revenues were $961.9 million, and that it made a net profit of $106.5 million for the year as sales rose 177% over 2002 totals.
tags: IPO | Law | Google |

Viacom Chairman Redstone to Buy Controlling Stake in Midway Games

Authored by Mark Hefflinger on April 29, 2004 - 3:28am.
New York -- Viacom chairman Sumner Redstone has announced his intention to purchase a controlling stake in Chicago-based video game developer Midway Games. In an SEC filing, Redstone said he intends to increase his stake in the company, which has created games including "Mortal Kombat" and "The Suffering," from 49.3% to 60%. "Do not look at this as a Viacom agenda ... it's a personal investment," Redstone told Reuters. "I have absolutely no intention to dispose of Midway. Midway will be owned by myself and National Amusements, my company." Midway this week reported financials for the first quarter of 2004, saying it suffered an operating loss of $14.2 million -- up from a loss of $9.3 million in Q1 2002 -- and revenue that fell from $45.8 million last year to $20.1 million in Q1 2003. "You will see very soon an enormous infusion of great creative talent to Midway -- and I mean very soon," Redstone added.
tags: Viacom | Midway Games | Deal | Redstone | Controlling Stake |

Court To Hear Dismissal Motions in Napster Case on June 14

Authored by Mark Hefflinger on April 29, 2004 - 3:25am.
San Francisco -- A federal judge in San Francisco has set June 14 to hear motions to dismiss lawsuits claiming investors in Napster cost the music industry $17 billion in lost sales, Reuters reported. The suit contends that Bertelsmann's $90 million investment in Napster helped keep the service operating illegally for an additional eight months. In addition to the Bertelsmann case, Universal Music and EMI Group have also sued venture capitalists Hummer Winblad, claiming the firm's $15 million investment decisions about Napster also promoted illegal piracy. Napster later filed for bankruptcy and its assets and name were purchased by Roxio, which is now offering a pay-for-use service under the Napster brand.
tags: Law | Napster | Dismissal Motions |

Ecast, TouchTunes Settle Digital Jukebox Patent Litigation

Authored by Mark Hefflinger on April 29, 2004 - 3:19am.
San Francisco -- Ecast and TouchTunes, two makers of digital music jukeboxes placed in bars and restaurants, announced on Thursday that they have agreed to settle outstanding patent infringement suits filed against one another. Under the terms, San Francisco-based Ecast agreed to pay Las Vegas-based TouchTunes a total of $4 million. The companies also agreed to cross-license each other's technology. Both companies offer products that download MP3 files over the Internet in order to update jukebox selections, unlike CD-based jukeboxes that rely on traveling reps to physically install new CDs in each jukebox in operation.
tags: TouchTunes | Litigation | Ecast | Digital Jukebox |

WeatherBug Raises $23 Million in Venture Capital

Authored by Mark Hefflinger on April 29, 2004 - 3:17am.
Gaithersburg, Md. -- WeatherBug, which runs one of the most popular Internet-based weather applications, announced on Thursday that its parent company, AWS Convergence Technologies, has secured $23 million in financing. Investors in the round included Sequoia Capital and Polaris Ventures -- both new investors -- as well as HarbourVest, the lead investor in the company's initial financing. Last week, WeatherBug, which provides localized weather information, announced a partnership with AOL Instant Messenger to launch an integrated service.
tags: VC | WeatherBug |

EMusic to Sell Live Concert Recordings on Keychain Hard Drives

Authored by Mark Hefflinger on April 29, 2004 - 3:14am.
New York -- Digital music distributor eMusic, now a unit of private equity firm Dimensional Associates, will launch a new service on May 21 that lets concertgoers take home a keychain hard drive containing a recording of the performance they just attended in MP3 format, the Associated Press reported. A pilot of the eMusic Live program will launch at Maxwell's in Hoboken, N.J., where automated kiosks will be installed to sell the reusable keychain drives for $20 each, plus $10 for the concert recording. The mostly independent artists using the service will have control over sound quality and get a cut of the profits. "This is a tool that allows fans to take home and share some of the best independent music from small live venues around the country," said Dimensional Associates CEO Daniel Stern. Recordings offered on eMusic Live feature artists including Calla, The Walkmen, The Polyphonic Spree and The Dismemberment Plan.
tags: eMusic | Live Concert Recordings | Keychain Hard Drives |

Comcast Withdraws $48.4 Billion Disney Merger Proposal

Authored by Mark Hefflinger on April 28, 2004 - 3:57am.
Philadelphia -- Comcast, the nation's largest cable TV operator, announced on Wednesday that it has withdrawn its $48.4 billion proposal to merge with The Walt Disney Company. "It has become clear that there is no interest on the part of Disney's management and Board in putting Comcast and Disney together," said Comcast president and CEO Brian Roberts. "We have always been disciplined in our approach to acquisitions. Being disciplined means knowing when it is time to walk away. That time is now." Roberts added that, as a result of the bid withdrawal, the company in a position to move forward with its previously announced $1 billion stock repurchase program. The company will also explore a possible purchase of bankrupt cable TV operator Adelphia, Reuters reported.
tags: Disney | Comcast | Merger Proposal | Refusal |

RIAA Sues Another 477 Alleged Music File-Swappers

Authored by Mark Hefflinger on April 28, 2004 - 3:54am.
Los Angeles -- The Recording Industry Association of America (RIAA) on Wednesday sued an additional 477 individuals for copyright infringement via music file-swapping, bringing the total number of U.S. residents sued by the major label trade group to 2,454. Wednesday's actions were filed against "John Doe" defendants, with the intention of having each defendant's name revealed by his or her Internet service provider through subpoena. The new lawsuits included 69 defendants at 14 universities, including Princeton and Brown; a round of suits filed in March also targeted 89 college students.
tags: Law | Music | RIAA | File-Swappers |

Report: Terra Lycos Looking to Sell U.S.-based Lycos Unit

Authored by Mark Hefflinger on April 28, 2004 - 3:52am.
New York -- Spanish Internet portal Terra Lycos has hired investment bankers Lehman Brothers to explore a possible sale of its U.S.-based Lycos Internet business, The Wall Street Journal reported on Wednesday. The sale of Lycos, which CNET News.com reports sources say could generate $200 million, would undo the $12.5 billion year 2000 merger of the Massachusetts-based company with the Spanish portal Terra. "An acquisition of Lycos, one of the last available premier Internet search and content properties, represents an outstanding and unique value creation opportunity at a time when advertising budgets are increasing, paid online content is gaining broader acceptance and public markets are favorably rewarding consolidation in the rapidly growing search market," reads a document prepared by Lehman Bros. that was obtained by News.com.
tags: Reports | Terra Lycos | Lycos Unit |

Apple Reports 70 Million Songs Sold in First Year of iTunes Store

Authored by Mark Hefflinger on April 28, 2004 - 3:49am.
Cupertino, Calif. -- Apple Computer announced on Wednesday that its iTunes Music Store has sold over 70 million songs since launching one year ago, and now claims a 70 percent market share of legal downloads for singles and albums. Apple had previously said its aim was to sell 100 million downloads in the first year of iTunes. The company also introduced a number of new features to the service, including CD jewel case printing, personal playlist sharing, "party shuffle," the rights to play songs on two additional computers (now a total of 5), and the ability to automatically convert unprotected WMA files into its proprietary AAC format, making them playable on an iPod.
tags: Music | Apple | iTunes |

RealNetworks Reports $12.3 Million in Music Revenue for Q1 2004

Authored by Mark Hefflinger on April 28, 2004 - 3:47am.
Seattle -- Media delivery technology provider RealNetworks announced its first quarter 2004 revenues on Wednesday, reporting that it generated more than $12.3 million in digital music revenue, despite an overall net loss of $10.4 million during the period for the company. The $12.3 million represents an increase of 55% over revenue from the 4th quarter of 2003, and comes from the Rhapsody and RadioPass monthly fee subscription services as well as from sales of downloads through Rhapsody and the RealPlayer Music Store launched at the beginning of the year. A RealNetworks spokesperson said that the numbers "are further evidence that [Apple CEO] Steve Jobs is dead wrong in saying that the music subscription market, which now has an estimated 1 million paying customers (between services like Rhapsody, Napster, MusicMatch and MusicNet) 'are not succeeding.'"
tags: Music | RealNetworks | Revenue |

Japanese Electronics Firms to Launch Broadband "Any Music" Service

Authored by Mark Hefflinger on April 28, 2004 - 3:44am.
Tokyo -- A consortium of Japanese consumer electronics firms plan to launch a broadband digital music subscription service called Any Music on May 20, which will deliver songs directly to compatible home audio equipment. Participating firms Kenwood, Sharp, Sony, Pioneer, Onkyo, D&M, JVC and Yamaha said that stereos and other devices featuring an Any Music button will be able to browse and download songs directly to the devices via a remote control -- bypassing a PC -- and also transfer them to portable players. Users will pay a $3 start-up fee and $3 monthly fee for Any Music, which will initially offer a library of 38,000 songs at $1.50 per track or $10 per album. Content will be provided by LabelGate, a music distribution company formed by the joint investment of Japan's leading record labels.
tags: Broadband | Japanese Electronics | Any Music |

Europe's Wisdom Group Raises $46 Million for 'Net Entertainment Ventures

Authored by Mark Hefflinger on April 28, 2004 - 3:42am.
Madrid -- The Wisdom Group, a newly formed group of European interactive entertainment businesses, announced on Wednesday that it has raised $46 million in new funds from investors Apax Partners and iNova Capital. The Wisdom Group's holdings bring together video game development and distribution firms (PyroStudios, Play Wireless, Proein); online information and entertainment distributors (LaNetro Internet, LaNetro Mobile, Geofactory, YATT); and a computer-animated film production company. All of these companies are managed by the Perez Dolset family, which retains a 51% stake in Wisdom Group. The funds will be used to finance the companies' national and international expansion projects.
tags: VC | Deal | Wisdom Group | Net Entertainment Ventures |

Streaming Video Delivery Provider The FeedRoom Raises $5.1 Million

Authored by Mark Hefflinger on April 28, 2004 - 3:40am.
New York -- The FeedRoom, a provider of streaming media delivery solutions for broadcasters and other media companies, announced on Wednesday that it has raised $5.1 million in new funding. The investment round was led by BEV Capital, with participation from existing investors Warburg Pincus, Ridgewood Capital, Constellation Ventures, Circle-T Partners, the New York City Investment Fund, former CBS CEO Peter Lund and UBS Warburg's U.S. head of investment banking Ken Moelis. New York-based FeedRoom's clients include NBC's owned television stations, CBS Sports, AOL, Comcast, Reuters and Tribune Television -- in all a network of 170 sites that deliver over 1 million streaming video clips daily. The company will use the funds to expand its sales and marketing efforts.
tags: Streaming Video | Deal | The FeedRoom |

Mobile Games Firm Airborne Entertainment Lands $2.2 Million

Authored by Mark Hefflinger on April 28, 2004 - 3:38am.
Montreal -- Airborne Entertainment, a publisher of mobile games and other wireless entertainment content, announced on Wednesday that it has received a $2.2 million investment from Wellington Financial LP Fund II as part of its ongoing second round of venture capital financing. Montreal-based Airborne has created wireless applications for customers including the WWE, NHL and a number of cable networks and magazines owned by Time Warner and others.
tags: Mobile Games | Deal | Airborne Entertainment |
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