ZIFF-DAVIS TO SELL ZDTV INTEREST TO VULCAN VENTURES FOR $204.8 MILLION.Big IT publishing firm Ziff-Davis Inc. has agreed to sell its 64 percent interest in ZDTV ZDTV Ziff Davis Television to Paul Allen's Vulcan Ventures Inc. investment organization for $204.8 million. The transaction is expected to be completed within 45 days. The agreement values the fast-growing cable network at $320 million. ZDTV is distributed in more than 14 million US homes, and is expected to reach 16 million by year-end. It is currently offered through 88 cable operators and more than 400 cable systems, as well as through both major satellite companies, DirecTV and Echo Star. Well known high tech investor Paul Allen
Paul Gardner Allen (born January 21, 1953 in Seattle, Washington) is an American entrepreneur. With Bill Gates, he formed Microsoft. was a co-founder of Microsoft Corp. "Vulcan Ventures understood the potential of ZDTV early on, having acquired a 33 percent stake in the cable channel nearly nine months ago. Their early investment provided Vulcan with the opportunity to see firsthand first·hand adj. Received from the original source: firsthand information. first the unique position that ZDTV now enjoys in leading the convergence of the Web and television programming," says Eric Hippeau, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ziff-Davis Inc. "This announcement is also an indication of the progress Ziff-Davis continues to make in its plan to maximize value for our shareholders." ZDTV will continue to maintain certain business agreements with ZDNet and ZD Publishing following completion of the transaction, including agreements that cover a joint news organization, and co-development, promotional and audience development programs. "ZDTV is a tremendous addition to Vulcan's portfolio of companies," says William Savoy, president of Vulcan Ventures. "ZDTV's management team combines a broad base of cable programming, entertainment and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the expertise to cover the continuing rapid convergence of technologies every day. ZDTV fits well with the portfolio of businesses that Vulcan is building." ZDTV is a 24-hour cable TV channel and integrated Web site focused exclusively on computing computing - computer , technology and the Internet. ZDTV.com encourages viewer interaction through e-mail, live chat and video mail. Through its 3Com Netcam Network, ZDTV's channel and Web site have created an integrated community that appears on air and contributes to ZDTV's programming. And ZDTV radio can now be heard in both RealNetworks and Windows Media formats Windows Media formats are supported in many software and hardware-based players as well as Microsoft's own software-based Windows Media Player. The foundation container format for Windows Media is the Advanced Systems Format (ASF) file, which holds audio, video, meta-data (titles, author, . Its features are also heard on 75 US AM and FM radio stations and internationally on 600 stations in 140 countries through the Armed Forces Radio Network. n |
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