To: 16yearcycle who wrote (84028 ) 11/12/1999 2:09:00 PM From: H James Morris Respond to of 164684
Yes, I'm also trying to sell them my software. I just sold some Msft shares for the fist time in almost 6 years.:-((( <<November 12, 1999 Intervu will deliver online video to Cable News Network's Web sites under a deal the companies announced yesterday that also could provide widespread exposure to Intervu's video-delivery capabilities. The San Diego company, which already delivers online video for NBC's Web sites, said the CNN deal also calls for the news network to promote Intervu both online and on its various television channels. CNN will receive $20 million worth of Intervu stock in return. News of the deal pushed Intervu stock up nearly 20 percent and gave the 4-year-old company a stock market value of slightly more than $1 billion. Shares closed at $76.121/2 , up $12.561/4. Intervu chief executive Harry Gruber, a former biotech executive in San Diego, said the deal would help his company try to become a "household name" as it competes with larger players such as RealNetworks and Yahoo's Broadcast.com. The company's revenue had doubled from the second to the third quarter of this year -- to $3.2 million -- and Gruber said the deal with CNN would help build momentum as Internet video becomes more prevalent. "We believe the market for streaming media is exploding," Gruber said. Though many home computers still lack the firepower to deliver lifelike video, demand from corporate users and consumers with high-end PCs is growing. That is only expected to accelerate as "broadband" Internet technologies arrive. Bill Burke, chief executive of news and information for Time Warner Digital Media, said CNN and other Time Warner Web sites receive 3.5 million requests for video a month, which it provides under a previous arrangement with Intervu. That demand fluctuates significantly depending on news events, and, Burke said, Web sites have seen huge spikes in demand with such events as the release of President Clinton's grand jury testimony -- which prompted 1.3 million video requests in one day. "As technology improves the quality of online video, we at CNN anticipate that more Internet users will rely on CNN streaming video," Burke said. "What we want to have is a robust system in place so we can react to split-second changes in demand on big stories." Intervu's service employs a network of computer servers around the country that can deliver video either live or on demand to large numbers of users around the country. While the company has built an impressive client list, starting in 1997 with its NBC deal, it still lost $16.5 million through the first nine months of this year. The company also delivers video for Intel, Microsoft and the Bloomberg financial information Web sites. Under the CNN deal, Intervu will deliver video for many of CNN's and TBS' Web sites. CNN will promote the service on its U.S. and international television channels as well as in airports and the various Web sites. Intervu said it would launch an advertising campaign by the end of the year through these outlets, which Gruber said were an ideal means to reach "business decision makers" who might become new Intervu customers.>>