To: Ponto Beach who wrote (82 ) 4/4/2000 4:56:00 AM From: Savant Respond to of 124
ALERT: OpenTV Could Be Picked for U.S. Cable Service in May, CEO Says 4/3/00 2:58:00 PM Source: Bloomberg News Mountain View, California, April 3 (Bloomberg) -- OpenTV Corp., the largest U.S. maker of software for interactive- television set-top boxes, could be selected in May for use on U.S. cable systems, the company's chief executive said. A U.S. cable company could announce it will use OpenTV at the National Cable Television Association's annual convention in New Orleans next month, said OpenTV President and Chief Executive Jan Steenkamp, who declined to name the company. The shares of Mountain View, California-based OpenTV fell 36 5/16 to 82 1/16 on the Nasdaq Stock Market. They've fallen 51 percent in the past six trading days on investor concern about the company's planned $1.93 billion purchase of Spyglass Inc., which makes Internet software for cell phones. OpenTV is talking with all of the top 7 U.S. cable-TV operators about using the service, which lets regular TV sets provide viewers with Internet service, traffic and weather reports, and the ability to play along with broadcast game shows, he said. The service reaches 6.1 million homes, all outside the U.S., which has 70 million households with cable. Any distribution agreement would boost sales for the company, which lost $4 million in the fourth quarter on sales of $8.4 million, and encourage other cable companies to use OpenTV. The top seven U.S. cable companies are AT&T Corp., Time Warner Inc., Comcast Corp., Charter Communications Inc., Cox Communications Inc., Adelphia Communications Corp. and Cablevision Systems Corp. Best, Savant %Urlman