12/07 13:29 Microsoft gets religion with Crosswalk media deal
By Eric Auchard
NEW YORK, Dec 7 (Reuters) - Microsoft Corp. has seen the light.
Beset by secular troubles as it awaits the outcome of the government antitrust trial against it, the world's largest software maker announced on Tuesday a pact to deliver Christian programming on its media Web site at www.windowsmedia.com.
Crosswalk.com <AMEN.O>, an Internet media company catering to Christian believers, said its religious-themed programming would be featured on a Microsoft media Web site, lifting shares of the Chantilly, Va.-based company by a heavenly 50 percent.
Crosswalk.com stock gained 2-13/16 to 8-3/8. But Microsoft <MSFT.O> stock sunk 2 points to 93-7/16 as concerns over the outcome of the antitrust trial, and a possible court-ordered split-up of the company, continued to weigh on the stock.
The company, which trades under the Nasdaq stock market ticker "AMEN," said it had agreed to use Microsoft's software to deliver its audio and video programming.
Crosswalk said it will use the software to deliver its programming both on its own Web site at www.crosswalk.com and as part of a guide within the Microsoft WindowsMedia site.
The pact between the tiny Christian Internet site and the embattled software publisher was announced as part of a flurry of deals Microsoft has set with major computer industry partners to support its audio and video software efforts.
The deal is part of Microsoft's efforts to accelerate consumer use of high-speed Internet programming services in the United States. Crosswalk said it would use Intervu Inc.'s <ITVU.O> transmission service to deliver its programming.
Shares of Intervu added 2-1/8 to 76 on the Nasdaq stock market.
Crosswalk.com said it was the only participant in this Microsoft effort focused on the sizable online Christian community. Other backers of Microsoft's high-speed Web media software push provide news, sports, music or entertainment.
"The Windows Media platform is about enabling new opportunities," Dave Fester, director of marketing for the Streaming Media Division of Microsoft, said in a statement announcing the deal. "We're excited that crosswalk.com is using Windows Media to meet the rapidly growing demands of its customer base," he said.
In its own business, Crosswalk.com said it will explore additional opportunities using Windows Media software in areas such as video advertising and pay-per-use businesses.
The centerpiece of Crosswalk.com's business is a portal, or network of interconnected Web sites, that offers Christian-themed music, and information on personal finance and careers, sports, home schooling, and health.
The site also offers services ranging from a Web search engine that screens out material deemed objectionable to Christian believers, filtered Web access, free e-mail, online shopping and other features.
((-- Eric Auchard, New York newsdesk, 212-859-1840))
COPYRIGHT ¸ 1999 REUTERS LIMITED. ALL RIGHTS RESERVED.
|
