Tuesday, January 11, 2005

Boston.com / Business / Technology / Cable giants buy software assets to boost interactive TV offerings

Boston.com / Business / Technology / Cable giants buy software assets to boost interactive TV offerings: "Double C Technologies, a joint venture of Comcast Corp. and Cox Communications, agreed to purchase the North American assets of Liberate Technologies, a San Mateo, Calif.-based developer of software that makes interactive TV applications possible.
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Officials at Liberate could not be reached for comment yesterday. The company has been struggling financially and at one point requested bankrupcty court protection, a request that was turned down by the courts. Liberate appealed that decision, and as part of yesterday's agreement with Comcast and Cox agreed to seek a dismissal of that appeal.
Yesterday, Liberate reported a net loss of $8.1 million for the three-month period ending Nov. 30, compared to a loss of $8.5 million for the same period a year ago. Revenue during the three-month period was $632,000. Over the last six months, Liberate racked up a a net loss of $20.4 million on revenue of $1.8 million."

Anybody else remember when Liberate had a gagillion$ market cap and was expected to vanquish Microsoft in all things TV-related?....
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