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Google Cuts Share Price Range Nearly 30%, Gets SEC Nod for IPO

Authored by Mark Hefflinger on August 18, 2004 - 2:33am.
Mountain View, Calif. -- Search engine firm Google on Wednesday lowered both the price range for its initial public offering and the number of shares that will be offered, just as the Securities and Exchange Commission (SEC) declared the company's IPO registration statement effective, meaning shares could begin trading on the Nasdaq on Thursday. The company said it will now offer a total of 19.6 million shares, down from 25.7 million, and that the price range will drop from $108 to $135 per share to $85 to $95 per share. The IPO will now have the potential to raise up to $1.9 billion, down from a potential high range of $3.5 billion.
tags: IPO | Google | SEC Nod | Share Price |

Report: Broadband Penetration Skyrockets to Over Half of U.S

Authored by Mark Hefflinger on August 18, 2004 - 2:32am.
New York -- Over half (51%) of the U.S. online population now connects to the Internet via a broadband connection, compared with 38% last July, according to figures released on Wednesday by New York-based Nielsen/NetRatings. The report found that 63 million U.S. surfers used broadband during July, as compared with 61.3 million connected via dial-up. Overall broadband growth rose 47% in July over the previous year, while narrowband connections fell 13% from 2003. Nielsen/Netratings also found that the 18-34 age demographic possessed the highest broadband penetration, and of these, 18-20 year-olds lead overall with 59% reporting a high-speed connection. "Despite a plateau in the growth of U.S. Internet access, we've seen continued high double-digit growth in users' broadband access," said Nielsen/NetRatings analyst Marc Ryan. "We expect to see this aggressive growth rate continue through next year when the majority of Internet users will be accessing the Internet via a broadband connection."
tags: Report | U.S | Broadbands | Skyrockets |

PlayStation 2, Xbox to See 25% Price Cuts in Europe

Authored by Mark Hefflinger on August 18, 2004 - 2:31am.
London -- Sony and Microsoft announced at a German video game convention on Wednesday that they plan to cut the prices of their video game consoles by 25% in Europe. Microsoft was the first to announce that, beginning on Aug. 27, the Xbox will sell for 99 pounds ($183) in the U.K., and 149 euros ($184) on the European continent. Sony then announced that its PlayStation 2 will immediately begin selling for 105 pounds ($191) in the U.K. and 159 euros ($196) elsewhere. Both companies cut the price of their consoles in the U.S. back in June. A representative for Nintendo told Reuters the company has no plans to slash the price of its GameCube console in Europe.
tags: Europe | Xbox | PlayStation 2 |

RealNetworks Plea for Support Backfires in Online Petition to Apple

Authored by Mark Hefflinger on August 18, 2004 - 2:29am.
Seattle -- RealNetworks, which yesterday touted a $0.49 music download promotion alongside an online petition asking Apple to license its security so songs from Real and other services can play on its iPod, on Wednesday was faced with hundreds of signatures from Apple supporters deriding the company and its software, The Seattle Post-Intelligencer reported. Many comments attacked the company's software, its CEO Rob Glaser, and its failure to create a version of its own music store for Mac users. "When we started this morning, we had (the ability to post and read) comments on the petition, but we felt there was a vocal minority coming to the site that would intimidate others from actually learning about the freedom of choice in music," Real spokeswoman Erika Shaffer told the Seattle P-I. The company now requires comment posters to provide an email address; however, many of the comments submitted since the change are still critical of the company. Before RealNetworks removed the first 859 comments posted on the petition, they were copied and reposted on MacDailyNews.com.
tags: Internet | Apple | RealNetworks | Backfires |

Top TV Networks Endorse Coding System for Targeted Advertisements

Authored by Mark Hefflinger on August 18, 2004 - 2:28am.
New York -- The top four broadcast networks (ABC, CBS, NBC and Fox) have endorsed a new advertising tracking code system that will give each ad a unique "bar code," so that eventually they may be targeted to individual households, Reuters reported on Wednesday. The Ad-ID system, a 12-character code, was developed by the Association of National Advertisers and the American Association of Advertising Agencies, and is also endorsed by over 100 large advertisers and trade groups. Advertisers will utilize a Web-based system to help assign an Ad-ID code to their spots. "It's going to allow advertisers for the first time to precisely target individuals for whom the message has relevance," Peter Sealey, adjunct professor of marketing at the University of California at Berkeley, told Reuters. "This way we can create on the fly a different ad for a different household." Sealey estimated that Ad-ID may be integrated with RFID, technology that tracks purchases, within five years, meaning that advertisers targeting ads will know whether consumers then purchased their wares.
tags: Top TV | Coding System | Advertisements |

Survey: Satellite TV Customers More Satisfied With Service than Cable

Authored by Mark Hefflinger on August 18, 2004 - 2:27am.
Westlake Village, Calif. -- While cable TV still dominates, nearly one in four U.S. households now subscribes to a satellite TV service, and satellite customers overall are more satisfied with their service, according to a report from J.D. Power and Associates. Based on a recent survey of 8,668 U.S. households, satellite providers overall received a rating of 723 out of 1,000, compared to scores of 659 for digital cable and 621 for analog cable providers. Satellite TV provider DISH Network received the highest ranking among subscribers, followed by fellow satellite firm DirecTV, and cable TV providers WideOpenWest, Cox and RCN. The report also found that the average monthly cost of service was $49.08 among satellite subscribers and $50.98 among cable subscribers.
tags: Surveys | Satellite TV | Cables | Customers | Satisfies |

Mobile Content Firm Mtone Withdraws Plans for $55 Million IPO

Authored by Mark Hefflinger on August 18, 2004 - 2:26am.
Santa Clara, Calif. -- About four months after filing to raise up to $55 million in an IPO, Mtone Wireless, a Santa Clara, Calif.-based developer of interactive entertainment and social networking services to mobile phone users throughout China, has filed with the Security and Exchange Commission to withdraw the offering. The company offered no reason for the decision. The company originally filed for the IPO in August. Mtone offers wireless services such as games, instant messaging and ring tones.
tags: IPO | Mobiles | Mtone | Withdraws |

Interactive TV Games Developer Zone4Play Raises $1 Million

Authored by Mark Hefflinger on August 18, 2004 - 2:24am.
Wilmington, Del. -- Zone4Play, a developer of games for interactive TV, cell phones and the Internet, announced on Wednesday that it has raised $1 million in a private placement of its shares with a group of undisclosed investors. Delaware-based Zone4Play has developed games and applications for customers including Cablevision, TwoWay TV, NTL, LodgeNet and Orange. The company will use the funds to accelerate product development and to expand into emerging markets. "We have recently signed revenue-sharing agreements with major TV platforms and hospitality providers as well as partnering agreements with leading content brands to adapt their games for iTV markets," said Zone4Play CEO Uri Levy. "We are moving forward with our plans for multiplayer games on all interactive channels. Zone4Play anticipates forming additional joint ventures with new business partners shortly."
tags: Games | VC | TV | Interactive | Zone4Play |

Infinium Seeks Delisting of Unauthorized Shares from German Exchanges

Authored by Mark Hefflinger on August 18, 2004 - 2:24am.
Sarasota, Fla. -- Infinium Labs, developer of a PC-based broadband gaming console, announced on Wednesday that it has requested that its shares be delisted from the Frankfurt and Berlin Stock Exchanges, as the company did not authorize any shares to be traded in Germany. Recent media reports have indicated that a number of U.S. companies have been listed on German exchanges without permission, by brokers seeking to circumvent U.S. restrictions on short selling. "Our legal counsel also is notifying the Berlin Stock Exchange that our stock has been listed on the Berlin Exchange without the company's knowledge, consent or authorization. We are requesting that our shares be delisted from the Berlin Exchange and the names of the listing brokers be delivered to Infinium Labs," said Infinium CEO Timothy Roberts. Florida-based Infinium Labs is set to release its Phantom gaming console in November.
tags: Infinium | German | Shares | Unauthorizes | Exchanges |