Financials

OpenTV Special Committee Rejects Kudelski's Buyout Bid

Interactive TV and advanced advertising technology provider, OpenTV , announced late Tuesday that a special committee of its board of directors has rejected an unsolicited proposal by its largest shareholder, Kudelski (note: the latter has an approximately 27% stake in the company that gives it approximately 75% voting control), to acquire all outstanding shares of OpenTV Class A ordinary stock not already owned by Kudelski. The committee determined that the price of $1.35 per share...

TiVo Reports Lower Revenues, Swings to a Loss

--Says Comcast Will Make TiVo "Primary DVR Option" in One of its tru2way Markets
DVR vendor/service provider, TiVo, on Wednesday released financial results for its fiscal first quarter, ended April 30th: Service and technology revenues totaled $48.5 million, compared to $54.9 million for the year-ago quarter. Adjusted EBITDA totaled $5.1 million, compared to $11.1 million for the year ago period (and compared to the company's previously issued guidance that EBITDA would range between breakeven and $2 million). The company attributed the decline to longer amortization of product lifetime revenues,...

OpenTV Reports Lower Q1 Revenues, Profits

Interactive TV and advanced advertising technology provider, OpenTV , announced its first-quarter financial results Thursday: --Revenues totaled $29.4 million, compared to $33.8 million for the year-ago quarter. Royalties and licenses revenues decreased 2.7% to $21.6 million, and services and other revenues decreased 32.8% to $7.8 million.
--Revenues from the company's Middleware Solutions segment totaled $27 million, compared to $30.1 million for the year-ago quarter. Contribution margin from the segment was $10.9 million, compared to...

Citytv Conducting Interactive TV Competition around "Hell's Kitchen"

Canadian broadcaster, Citytv , contacted [itvt] Wednesday to let us know about an interactive TV competition it is conducting around the reality TV show, " Hell's Kitchen ." During the May 7th and May 14th episodes of the show, Citytv will display a special image at the bottom left-hand corner of the screen throughout the broadcast. Viewers will be invited to go to a dedicated "Hell's Kitchen" page on Citytv's Web site, identify the image...

Azuki Systems Secures $6 Million in New Funding

--Company's Solutions Enable Interactive Mobile Video
Azuki Systems , a company which offers a mobile video and multimedia platform that incorporates interactive and social features, announced Tuesday that it has secured $6 million in additional equity financing. The additional funding was provided by original investors, Sigma Partners and Kepha Partners, as well as by a number of Azuki's own executives, the company said (it has now raised around $13 million). Azuki, which was founded in 2007, claims to be currently deploying...

Time Warner's Bewkes Says Company is Working with "Several Distributors" on "TV Everywhere"

--Trial Slated for Second Half of the Year
During Time Warner's Q1 earnings call, Wednesday, the company's chairman and CEO, Jeff Bewkes, provided an update on "TV Everywhere," its initiative to make programming that pay-TV customers have already paid for through their cable, satellite or IPTV subscriptions available to those customers on broadband and mobile platforms. "The idea is simple," Bewkes explained. "If you subscribe to a TV channel at home you can watch it for free on broadband from any provider, wherever...

VOD Technology Provider, Concurrent, Reports Large Losses

--Losses Include Substantial Non-Cash Impairment Charges
VOD technology provider, Concurrent , on Tuesday released financial results for its fiscal third quarter, ended March 31st:
--Revenues totaled $19.2 million, compared to $19.4 million for the year-ago quarter.
--Net losses totaled $15.3 million, or $1.85 per diluted share, compared to net income of $301,000, or $0.00 per share, for the year-ago quarter. The company said that the figure for the most recent quarter included non-cash impairment charges of $17.1 million resulting...

Visual Navigation Specialist, Cooliris, Raises $15 Million+ in Series B Funding

--Officially Launches the "Cooliris Wall"
Visual navigation specialist, Cooliris (note: the company's technologies were featured at [itvt]'s TV of Tomorrow Show in San Francisco last month), officially launched its newest application, Monday, the "Cooliris Wall." According to the company, the app allows users to scan an expansive "3D wall" of content from, for example, broadband video sites such as YouTube, social media sites such as Facebook, professional news and entertainment sites, gaming sites, and users' own computers. It is available...

Current Media Cancels IPO Plans

Current Media has canceled plans for an IPO, according to a document filed with the US Securities and Exchange Commission (SEC) Friday. "In light of current market conditions, [Current TV] has determined not to proceed at this time with the public offering contemplated by [its previously submitted registration statement]," the company stated in the document. In a January, 2008 SEC filing, the company had stated that it hoped to raise $100 million via an IPO...

Clearleap Secures New Funding, Expands Senior Management Team

Clearleap, an Atlanta-based company that is developing a platform which it bills as making available "the virtually limitless diversity of video...such as any movie or TV show ever made, sports from international competitions to local high school football, special interest programs, and user-generated content...to viewers on their TV sets in the comfort of their living rooms," says that it has secured $3.3 million in venture debt financing from Silicon Valley Bank. Earlier this year, the...

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