This Just In
By Staff -- Multichannel News, 4/6/2003 8:00:00 PM
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Items:
Liberty Pumps $10M Into DMX AOL Petitions for End to IM Regs Gemstar Readies HD Guide for Motorola |
Liberty Pumps $10M Into DMX
Los Angeles— Liberty Media Corp. has invested an additional $10 million into DMX Music, a move that should keep the digital music service provider's lenders at bay.
In a press release, DMX said the capital infusion was made to support its seven months of record performance. The funds will be used to further build the company's infrastructure and for working and growth capital.
DMX Music has about 10 million subscribers and provides digital music programming to cable and satellite operators and businesses.
Liberty owns a 56 percent interest in Maxide Acquisition Inc., doing business as DMX Music. In its 10-K annual report, issued March 25, Liberty said Maxide was not in compliance with three covenants in its bank-loan agreement and was in discussions with its lenders "regarding the resolution of these defaults." The outstanding balance of Maxide's bank facility was $94 million at Dec. 31, according to the 10-K.
"DMX has received revised loan terms," a DMX spokeswoman said.
AOL Petitions for End to IM Regs
Washington— AOL Time Warner Inc. has petitioned the Federal Communications Commission to remove regulatory restrictions on the company's ability to offer advanced instant-messaging services, such as video streaming.
In approving the America Online Inc.-Time Warner Inc. merger in January 2001, the FCC barred the company from offering advanced IM services until it had interoperability agreements with competitors, or had sought a waiver from the requirement from the agency based on a "material change in circumstance."
Gemstar Readies HD Guide for Motorola
Tulsa, Okla.— Gemstar-TV Guide International said it's completed development and testing of TV Guide's VOD guide on the Motorola DCT5100 HD set-top box. The company said trial deployments with Comcast Corp. and Charter Communications Inc. are underway.
The new guide provides consumers with several different access points to get to VOD content, as well as a video barker window. TV Guide said it has integrated with SeaChange and is working on integration with Concurrent Computer Corp.
TV Guide also said a DVR version of its guide is running on Motorola's DCT5200.
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