Re: Digital TV - ReplayTV IPO Cancelled
Thread- Does anyone know how many of these boxes they, and TiVo have sold to date?
IMHO, I don't think the current equities market is so unfavorable to an IPO candidate such as ReplyTV. So I'm just wondering if there is more to this story than meets the eye? Thanks. -MikeM(From Florida)
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ReplayTV Withdraws IPO Citing Poor Market
WASHINGTON-- ReplayTV Inc., a media company that allows television viewers to ``watch what they want, when they want,'' said on Monday they withdrew an initial public offering because of unfavorable conditions in the market.
The Mountain View, Calif.-based company, which was planning to offer 8.5 million common shares in a range of $13-$15 a share, was going to use the net proceeds for working capital and general corporate purposes.
ReplayTV had applied for a Nasdaq listing under the symbol RPTV'' (RPTV.O), and was going to have the IPO handled by Morgan Stanley Dean Witter, Bear Stearns, Chase H&Q, Deutsche Banc Alex Brown and Wasserstein Perella.
ReplayTV, which had originally filed with the SEC to go public in January, said on Monday: ``In light of current market conditions, the company has determined not to proceed with the public offering ... at this time.''
The company said it offers its service through a digital video recorder connected to a television that provides ``a living room portal'' through which viewers can control programming. Its chairman, Earle ``Kim'' LeMasters, was at CBS Television from 1976-1990, most recently serving as president of CBS Entertainment. |
