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Vivendi Completes $3.65 Billion Sale of Entertainment Assets to NBC

Authored by Mark Hefflinger on May 12, 2004 - 2:13am.
New York -- French media conglomerate Vivendi Universal announced on Wednesday that it has completed its $3.65 billion sale of Vivendi Universal Entertainment, which includes its motion picture studio, TV production operations and theme parks but not the record label group, to U.S. TV network NBC. The resulting company will be called NBC Universal, and will be 80%-owned by NBC parent GE with the remaining stake controlled by Vivendi Universal. Bob Wright, vice chairman of General Electric, will become chairman and CEO of NBC Universal. The company expects to generate revenues of $15 billion in 2005. "This transaction gives Vivendi Universal a 20 percent ownership interest in NBC Universal and at the same time enables us to record a total net debt reduction of approximately $6 billion," said Vivendi Universal chairman and CEO Jean-Rene Fourtou.
tags: NBC | Vivendi | Entertainment Assets |

Nintendo Details New DS Handheld Game System

Authored by Mark Hefflinger on May 12, 2004 - 2:12am.
Los Angeles -- Nintendo has announced some of the details of its Nintendo DS portable gaming system, which it plans to launch in Japan and North America by the end of the year, and in Europe during the first quarter of 2005. One of the device's dual 3D screens features touch-screen input; the DS also features voice recognition, 16-channel sound and both short- and long-range wireless multiplayer capabilities. The DS will sport two processors, and play both legacy Game Boy Advance titles and the new gigabit-capacity DS cartridges. Nintendo said game titles in the works for the DS include a new Super Mario game, a Metroid game, a WarioWare game and PictoChat, which lets players send instant text and picture messages to one another. In addition, Nintendo said it has distributed over 100 development kits to companies that will create games for the DS.
tags: Games | Nintendo | DS | Handheld |

Report: Avid U.S. Video Gamers Viewing Less TV, Movies

Authored by Mark Hefflinger on May 12, 2004 - 2:10am.
Los Angeles -- A recent survey of Americans who play video games found that 52% of gamers who say they are spending more time playing games report watching less television as a result, with 47% adding that they go to movies less. The survey was conducted by the Entertainment Software Association (ESA), the U.S. video game trade group. "What we're seeing is that consumers are choosing video and computer games as their choice of entertainment for the 21st century," said ESA president Douglas Lowenstein. "Computer and video games have made tremendous advances over the past decade, both creatively and technologically, drawing more people into immersive and complex virtual worlds." The survey also examined gamer demographics, finding that 75% of console gamers are male and 46% are under 18 years old, while 61% of computer gamers are male and 36% are under 18; 25% of PC gamers are over 46. In the online game market, 40% of gamers are female, and 43% say they play online one or more hours per week, up from 37% in 2003 and 31% in 2002.
tags: TV | Reports | Movies | U.S | Video Games |

Napster Licenses AIM U.K. Indie Labels for Download Store

Authored by Mark Hefflinger on May 12, 2004 - 2:09am.
Los Angeles -- Napster, the digital music service unit of Roxio, announced on Wednesday that it has signed a worldwide distribution agreement with the Association of Independent Music (AIM), a consortium of U.K. independent record labels. Initially, 50,000 tracks from 50 of AIM's 800 member labels will be available on Napster, when it launches in the U.K. this summer. Rival Apple also plans to launch a U.K. version of its iTunes Store in the coming months.
tags: Downloads | AIM | Napster | U.K | Indie Labels |

U.K. Digital Music Service Wippit Licenses Sony Music Tracks

Authored by Mark Hefflinger on May 12, 2004 - 2:08am.
London -- Wippit, a U.K.-based legitimate file-sharing service and song download store, announced on Wednesday that it has licensed tracks from major label Sony Music for its service. The company has already secured deals with fellow majors BMG and EMI, as well as with 200 independent labels. Along with Wippit, rival OD2 also currently offers legal song downloads to U.K. customers -- although the market will soon expand as Apple, Napster and Sony launch their own respective services in the region later this year.
tags: Sony | U.K | Digital | Music Service | Wippit |

Report: U.K. to Become World Broadband Roll-Out Leader

Authored by Mark Hefflinger on May 12, 2004 - 2:07am.
London -- A new report conducted by the U.K.'s Organization of Economic Co-operation and Development (OECD) shows that the U.K. is set to become one of the world leaders in the roll out of broadband Internet services. The report found that DSL would be available on about 95% of U.K. telephone lines by year's end, a percentage surpassed only by Belgium, Denmark and Switzerland. In terms of ADSL availability, the U.K. fares even better, boasting nearly 90% availability, a percentage that is set to reach 99% by the end of next year if dominant local telecommunications group BT meets its targets. If BT does in fact achieve 99% availability by 2005, the U.K. will become the world leader in that category, the OECD said. The report is certain to give a boost to the British government, which has made no secret of its desire to make the U.K. the most "extensive and competitive" broadband market among industrialized nations by next year.
tags: Broadband | Reports | Roll-out | U.K |

Sirius Satellite Radio Hits 400,000 Subscribers

Authored by Mark Hefflinger on May 12, 2004 - 2:06am.
New York -- Sirius Satellite Radio announced on Wednesday that it has reached 400,000 subscribers for its nationwide, satellite-delivered digital radio service. The company added that it is still on track to reach its goal of one million subscribers by year's end. Rival XM Satellite Radio recently said it expects to reach 2 million subscribers within its current financial quarter.
tags: Satellite Radio | Subscribers | Sirius |