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Game Developer Midway Raising $82 Million Through Stock Sale

Authored by Mark Hefflinger on April 13, 2004 - 8:19am.
Chicago -- Video game developer Midway Games announced on Tuesday plans to raise $82.3 million through a private placement of 11.3 million shares of its stock. The Chicago-based company said it will use the $78.4 million of net proceeds from the offering for general corporate purposes, including working capital, financing capital expenditures, research and development, marketing and distribution efforts, and acquisitions or strategic alliances. Midway's recent titles include "NBA Ballers" and "The Suffering."
tags: Games | Midway | Deal | Stocks |

Post: SEC to Seek Charges Against Time Warner for AOL Ad Deals

Authored by Mark Hefflinger on April 13, 2004 - 6:23am.
Dulles, Va. -- Media giant Time Warner may soon be charged in connection to $400 million in questionable advertising revenue that it booked following its 2001 merger with America Online, The Washington Post reported on Tuesday. The revenue being examined by the Securities and Exchange Commission reportedly stems from a $400 million ad deal with German media giant Bertelsmann. The SEC has alleged that AOL inflated its ad revenue through several deals, including the one with Bertelsmann. "There were a lot of deals that were not kosher," an unnamed government officials told The Post. The SEC reportedly plans to send a formal letter outlining the specifics of the case to Time Warner by early this summer, and negotiations for a possible settlement could follow several weeks later. The Post said that the SEC is also considering financial sanctions against the company.
tags: AOL | SEC | Time | Post |

Adware Firm Claria Files for IPO

Authored by Mark Hefflinger on April 13, 2004 - 6:21am.
Redwood City, Calif. -- Claria, a provider of advertising software formerly known as Gator, has filed for an initial public offering of shares with the Securities and Exchange Commission. The company's software has been bundled with downloads of the popular Kazaa file-sharing application, and monitors the surfing habits of users in order to deliver targeted pop-up ads. It also provides software that can automatically fill in forms when ordering products or entering passwords online. Redwood City, Calif.-based Claria has battled several lawsuits against its adware, but claims 43 million people are currently using its products. Claria did not say how much it plans to raise in the IPO, but reported revenue of $90 million for 2003.
tags: IPO | Adware | Claria | Files | Firm |

New Intel Chips to Offer Copy-Protection for Cell Phones, PDAs

Authored by Mark Hefflinger on April 13, 2004 - 6:18am.
Taipei, Taiwan -- Chipmaker Intel has announced a new line of processors for cell phones and PDAs that include digital rights management technology designed to allow copyright holders to determine how their music, movies and other media content is used on the devices. The Intel PXA27x family of processors (formerly code-named "Bulverde") will offer hardware-based security for digital media content, which the company hopes will spur providers to feel more comfortable releasing more of their content for cell phones and wireless devices. Intel has not announced any phone makers that will utilize the new chips, but said that firms including Microsoft, Symbian and PalmSource will include support on their PDA software and hardware.
tags: Chips | Intel | Cell Phones | Copy-Protection | PDAs |

Report: One in Six Americans Have Used Wireless Internet

Authored by Mark Hefflinger on April 13, 2004 - 5:28am.

Washington -- One in six Americans (17%) have logged on to the Internet via a wireless connection, such as a laptop with Wi-Fi or an Internet-connected cell phone, according to the findings of a recent survey of U.S. Internet users conducted by the Pew Internet & American Life Project. The percentage was even higher among those aged 18-27, as 28% of those reported having accessed the wireless Internet. Overall, the survey also found that a record 73% of Americans over 18 use computers, and that 63% report using the Internet.
http://www.pewinternet.org/reports/toc.asp?Report=121
tags: Internet | Wireless | Americans |