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FWD: DIVX is Dead



This e-mail was received from the opendtv group
--------------------------------------
Date: 6/16/99 1:37 PM
From: Craig Birkmaier
ZDnet reports that the DIVX team has raised the white flag and is pulling
the plug on the "limited play" verion of DVD-video

http://www.zdnet.com/zdnn/stories/news/0,4586,2276806,00.html


Say bye-bye to Divx
Sales were going well, but systems couldn't get adequate support from
studios and retailers.

June 16, 1999 5:33 AM PT

The makers of Divx, a rentable DVD system, have announced that they will
discontinue operations.


Digital Video Express LP, which is partially owned by Circuit City stores
Inc.  said that while sales of the systems were going well, "we have been
unable to obtain adequate support from studios and other retailers."

Circuit City will take a $114 million charge related to closing out the
business. The company posted a first quarter loss of $88.8 million,
Wednesday.

Circuit City Group, the publicly traded electronics division, topped
analysts' forecasts of 25 cents a share with profits of $39.3 million or
41
cents a share on a 15 percent increase in sales to $2.2 billion. The
Richmond, Va.-based company reported a loss of $88.8 million or 87 cents
a
diluted share.

Officials said consumers who purchased Divx-enhanced players before June
16
will be eligible for a $100 rebate and said that all Divx discs can be
viewed between now and June 30, 2001.

Digital video players, which the company began selling in September,
allowed users to view movies on encrypted discs for up to two days. Users
were allowed to keep the discs and purchase additional viewings or
convert
the discs to unlimited play through the Divx-enhanced player.

Circuit City said today that in addition to the rebates, it would cut
prices on Divx-enhanced players, and extend the return policy for players
purchased before June 16.


Reuters contributed to this story.




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Date: Wed, 16 Jun 1999 13:37:59 -0400
To: OpenDTV Mail List <OpenDTV at pcube.com>
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Subject: DIVX is Dead
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