Inspiration Nets Helps Convoy to Deliver Aid
Charlotte, N.C. — The Inspiration Networks and Convoy of Hope distributed 12 truckloads of disaster-relief supplies to communities affected by Hurricane Dennis within three days after the storm hit Florida.
The programmer said more than 500,000 pounds of relief supplies were distributed to the affected areas in the first week after Dennis hit.
“Cable operators have the opportunity to share in these humanitarian efforts and show concern for their local communities by partnering with The Inspiration Networks and Convoy of Hope,” INSP executive vice president of sales and marketing Rod Tapp said in a prepared statement.
SeaChange Wraps Up Liberate Asset Buyout
Maynard, Mass. —SeaChange International Inc. last week completed its deal to acquire most of Liberate Technologies’ business assets outside of North America.
SeaChange cut the $23.5 million cash deal for the ITV-software assets in April.
Liberate has deployed its software with NTL Inc., Telewest Communications plc and UnitedGlobalCom Inc. in Europe. The domestic Liberate assets were purchased earlier this year by TVWorks, a joint venture between Comcast Corp. and Cox Communications Inc. (See story, page 12.)
SeaChange gets the rights to certain customer contracts, patents and other intellectual property, along with assuming certain limited liabilities. SeaChange said it will continue operations in Liberate’s former facilities in San Mateo, Calif., and London, retaining about 20 employees.
Cable Installer Files For Chapter 7 Closure
Conshohocken, Pa. — Contract cable installer Connexion Inc. has filed for Chapter 7 liquidation after it apparently couldn’t cut a deal with lenders.
Operating under the MetroTec Communications Inc. and General Fiber Communications Inc. names, Connexion provides installations and upgrades for several top cable MSOs such as Adelphia Communications Corp., Cablevision Systems Corp., Charter Communications Inc. Comcast Corp., Cox Communications Inc. and Time Warner Cable.
The company filed for Chapter 11 bankruptcy protection July 6 in U.S. Bankruptcy Court for the Eastern District in Brooklyn, N.Y., citing assets of $45.5 million and liabilities of $84.7 million. The next day, it requested that the case be converted to a Chapter 7 liquidation. That request was granted July 8.
According to bankruptcy court documents, Connexion performed about 2 million installs per year and fielded about 200,000 service calls per month for customers. The company has about 900 employees in 14 offices in nine states, according to court documents.
New York-based distressed-debt investor Cerberus Capital Management L.P. was the sole owner of Connexion’s parent, GFCI LLC.
The Daily Deal reported that Connexion could not reach a deal with its banks.
Ground Broken for Discovery Telescope
Silver Spring, Md. — TheDiscovery Channel Telescope moved one step closer to becoming a reality last week.
Lowell Observatory and Discovery Communications Inc. broke ground for the 4.2-meter telescope north of the U.S. Forest Service Happy Jack Ranger Station at Coconino National Forest in Arizona.
The telescope will be the fifth-largest in the continental United States and one of the most sophisticated ground-based telescopes of its size.
“By significantly improving the exploration of our solar system and the universe beyond, Discovery and the Lowell Observatory will bring the most exciting new discoveries found in our universe to millions of people around the globe,” DCI founder and chairman John S. Hendricks said in a statement.