NO DECISION YET ABOUT MGM PUBLIC OFFERING
MGM's board of directors Friday put off a decision on when to go ahead with a public offering. The Wall Street Journal said that the board, which is meeting at the studio's headquarters in Santa Monica, CA, would continue to discuss the matter this week.
Network Seven has a major stake in MGM so I would imagine the local share prices will reflect what happens in the US.
FEDS OKAY MICROSOFT'S WEB-TV PURCHASE
Noting that other companies planned to enter the market for TV sets capable of accessing the Internet, the Justice Department concluded Friday that no threat to competition appeared to exist in Microsoft's $425 million acquisition of WebTV. Microsoft, immediately following the government announcement, said that it had closed the purchase.
Look for local sales of WebTV to start in Australia in the near future.
MICROSOFT PUSHES INTERNET BROADCASTING
Microsoft, which has already made a significant investment in Progressive Networks, the leader in audio and video "streaming" on the Internet, is about to acquire one of Progressive's major rivals, VXtreme. Analysts said that they expected Microsoft to use its clout to force a common video standard for the Internet. They said that
Microsoft's acquisition of VXtreme, would also hasten the day when Web sites provide video news, entertainment and promotion. Currently CNN employs VXtreme to deliver live news footage to PCs.
It looks like the integration of the PC and TV is just around the corner. Watch for major announcements from the new joint venture between the Nine Network and Microsoft’s MSN.
AND SO DOES MCI
Meanwhile, Interactive Week reported that MCI and Progressive are expected to team to develop The Real Network, a real-time audio and video service that eventually could rival radio and television as a broadcast medium. ABCNews, CBS/Sportsline, Fox News and ESPN SportsZone are expected to join the alliance as content providers.
