Global Crossing Partners with The FeedRoom to Bring Applications, Services and Interactive Content Distribution Technologies to Global Crossing's Media & Entertainment Extranet.Business Editors & High-Tech Writers NEW YORK--(BUSINESS WIRE)--June 20, 2001 Global Crossing Ltd (NYSE NYSE See: New York Stock Exchange :GX): -- Global Crossing to manage distribution infrastructure from The FeedRoom's facilities to broadcasting companies and multi-national corporations. -- Includes co-marketing agreement whereby Global Crossing and The FeedRoom will bring new end-users and content providers onto the Global Crossing Media & Entertainment extranet employing the FeedRoom video platform. -- The FeedRoom among first of Bear Stearns' Constellation Ventures portfolio companies to participate in a recently announced alliance between Constellation Ventures and Global Crossing. Global Crossing Ltd (NYSE:GX) and The FeedRoom, Inc. today announced a strategic agreement that brings The FeedRoom's broadcast applications, services and interactive content distribution technologies to Global Crossing's Media & Entertainment extranet. In addition, Global Crossing will now assume management responsibilities of The FeedRoom's distribution infrastructure from the company's facilities to the premises of partner broadcasting companies Noun 1. broadcasting company - a company that manages tv or radio stations company - an institution created to conduct business; "he only invests in large well-established companies"; "he started the company in his garage" and multi-national corporations. The companies also agreed to co-market their services to bring new end-users and content providers onto the Global Crossing Media & Entertainment extranet employing The FeedRoom video platform. The FeedRoom is a leading provider of online video experiences that is building a preeminent network of video-rich platforms. The FeedRoom's broadband news network aggregates the latest news, business, sports, and weather video from the local TV stations owned by NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. , Tribune Company The Tribune Company (NYSE: TRB) is a large American multimedia corporation based in Chicago, Illinois. It is the nation's second-largest newspaper publisher, responsible for the Chicago Tribune, Los Angeles Times, Newsday, Hartford Courant , Journal Broadcasting and Granite Broadcasting, as well as dozens of independent news providers. The FeedRoom also creates video destinations for enterprises such as Cisco. The FeedRoom is a portfolio company of Bear Stearns' Constellation Ventures, which recently announced an alliance dedicated to applications partners developing network-centric software and systems that will enhance the value of Global Crossing's Media & Entertainment extranet. "The FeedRoom is changing the way that broadcasters leverage their video assets and is radically transforming how consumers interact with news programming," said Donna Reeves, president of Global Crossing's Media & Entertainment division. "Through our Media & Entertainment extranet, Global Crossing is working with industry leaders such as The FeedRoom to provide not only a high-speed, secure infrastructure, but the applications and services that will accelerate the digital broadcast market." The agreement enables The FeedRoom to dramatically expand its distribution through Global Crossing's fiber-optic network that will, upon completion, span more than 100,000 route miles The number of miles that are spanned by a telecommunications network. It does not include combined wire mileage due to multiple wires or fibers within a single cable or by overlapping segments, just the total geographic distance between cities or other terminal points. and reach more than 200 cities. Global Crossing's Media & Entertainment extranet was recently launched specifically to provide a service and solutions offering for the broadcast, film and publishing industries, enabling industry participants to exchange digital content over a secure, high-speed broadband connection See broadband and wireless broadband. . The Media & Entertainment extranet will connect geographically dispersed media facilities via the broadband exchange of TV-quality video, CD-quality audio, live event broadcasting, feature films and commercial production and on-demand applications. The FeedRoom founder Jonathan Klein The name Jonathan Klein can refer to one of the following:
"The media and entertainment industries are at an important crossroad, where the creative community must embrace technology in order to thrive in the new digital arena," said Clifford Friedman, senior managing director of Constellation Ventures. "Constellation Ventures is committed to helping companies, like The FeedRoom, who are going to enable the industry to take the next evolutionary steps forward. Embedded Inserted into. See embedded system. in the Global Crossing Media & Entertainment extranet, The FeedRoom's technology, applications and services will provide broadcasters with access to tools that will help them run their stations more efficiently as they move to digital broadcasting Digital broadcasting is the practice of using digital data rather than analogue waveforms to carry broadcasts over television channels or assigned radio frequency bands. It is becoming increasingly popular for television usage (especially satellite television) but is having a ." About The FeedRoom The FeedRoom is a leading provider of online video experiences that is building a preeminent network of video-rich sites. The FeedRoom partners with news organizations, entertainment companies and corporations to bring a TV-like experience to Internet audiences. Customers include Cisco, NBC, The Tribune Company and the Journal Broadcast Group. The FeedRoom employs a unique content management system, a robust streaming infrastructure, award-winning editorial and design expertise and a rich-media sponsor integration platform to create these destinations. Visitors to FeedRoom sites enjoy an easy-to-use interface and are given the power to control their own newscast newscast Radio or television broadcast of news events. News gathering and broadcasting by the radio networks began in the mid-1930s and increased significantly during World War II. The television newscast began in 1948 with 15-minute programs that resembled movie newsreels. and video viewing from a rich array of content. The FeedRoom network can be explored at www.feedroom.com. About Constellation Ventures Founded in 1998, Constellation Ventures, a unit of Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. Asset Management, manages $450 million in venture capital through offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Tokyo. The fund invests between $5 and $15 million in early to mid-stage companies that enable the distribution, management and control of information over emerging digital networks. Constellation Ventures provides its portfolio companies strategic value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. by leveraging its Limited Partners that include Bear Stearns, Sony, Viacom, Young & Rubicam, Dai Nippon Printing Dai Nippon Printing (大日本印刷 Dai Nippon Insatsu , NTT NTT Nippon Telegraph and Telephone Corporation NTT New Technology Telescope NTT National Technology Transfer, Inc NTT Name That Tune (TV game show) NTT National Tree Trust NTT Number Theoretic Transform Data, Acxiom, Toyota and Singapore Technologies. About Global Crossing Global Crossing Ltd (NYSE:GX) provides telecommunications solutions over the world's first integrated global IP-based network, which will have approximately 100,000 route miles, reaching 27 countries and more than 200 major cities. Global Crossing serves many of the world's largest corporations, providing a full range of managed data and voice products and services. Global Crossing operates throughout the Americas, Europe, and the Asia/Pacific region, and provides services in Asia through its subsidiary, Asia Global Crossing (Nasdaq:AGCX). Global Crossing Solutions provides integrated telecommunications solutions, including network outsourcing, to large global enterprises. Please visit www.globalcrossing.com or www.asiaglobalcrossing.com for more information. Statements made in this press release that state the Company's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; possible reductions in demand for our products and services due to competition or changes in industry conditions; changes in the nature of telecommunications regulation in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion