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Technology Stocks : IATV-ACTV Digital Convergence Software-HyperTV
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To: mike.com who wrote (4513)6/3/1999 7:08:00 PM
From: Bruce Cullen  Read Replies (1) of 13157
 
June 03, 1999:

The Box Goes Hyper
Miami Beach, Fla. -- TCI Music Inc.'s The Box Music Network, which is being sold to MTV Networks, announced an Internet-TV alliance with HyperTV Networks Inc., a division of ACTV Inc.

The joint venture will combine The Box's video-on-demand programming with HyperTV, ACTV's patented software for television and Internet interface.

TCI Music parent Liberty Media Group is a minority investor in ACTV, having agreed to take 12 percent of its common stock with the option of increasing that stake to 25 percent.

The Box -- which reaches around 40 million global households and is carried by major MSOs -- hopes to leverage HyperTV to provide viewers with e-commerce, as well as Web content and advertising.

For example, while someone is watching a music video on The Box, the viewer can simultaneously log on to a music Web site and access everything from song lyrics to band biographies and features.

The viewer will also have the option to buy related merchandise, from compact discs and videos to apparel.

"The Box has always been ahead of the industry in terms of interactivity. Ours is a natural and potentially powerful alliance," ACTV president and chief operating officer David Reese said in a prepared statement.

- 6/3/99

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