Interesting People mailing list archives
ReplayTV maker Sonicblue to file for Chapter 11
From: Dave Farber <dave () farber net>
Date: Sat, 22 Mar 2003 16:37:31 -0500
------ Forwarded Message From: Dewayne Hendricks <dewayne () warpspeed com> [Note: I guess I'm not surprised at this news, but as a ReplayTV owner as are some other folks on this list, I'm concerned about the future of the product. Let's hope for the best for all concerned. DLH] ReplayTV maker Sonicblue to file for Chapter 11 Fri March 21, 2003 09:27 AM ET <http://reuters.com/newsArticle.jhtml?type=topNews&storyID=2423476> SANTA CLARA, Calif., March 21 (Reuters) - Consumer electronics maker Sonicblue Inc. SBLU.O said on Friday it plans to file for Chapter 11 bankruptcy protection and sell the assets of its main product lines. Sonicblue said it has agreed to sell its Rio unit, which made the first mainstream device to play music in the popular MP3 format, and its ReplayTV digital video recorder unit, which competes with TiVo Inc TIVO.O , to D&M Holdings 6735.T of Japan for $40 million plus the assumption of about $5 million in liabilities. D&M is the parent company of well-known audio equipment makers Denon Ltd. and Marantz Japan Inc. It also agreed to sell its GoVideo unit, which makes DVD players and other devices, to Opta Systems LLC, which is owned by Carmco Investments LLC, for $12.5 million. Opta Systems Vice Chairman Roger Hackett is a former Sonicblue executive who helped to develop the GoVideo product line. Sonicblue said it obtained an additional $4 million in additional financing from its senior secured lender. The company anticipates the sale of its assets will be completed by the end of April, 2003, pending approval of the bankruptcy court and regulatory agencies. The company plans to file for bankruptcy in the northern district of California, San Jose division. Archives at: <http://Wireless.Com/Dewayne-Net> Weblog at: <http://weblog.warpspeed.com> ------ End of Forwarded Message ------------------------------------- You are subscribed as interesting-people () lists elistx com To manage your subscription, go to http://v2.listbox.com/member/?listname=ip Archives at: http://www.interesting-people.org/archives/interesting-people/
Current thread:
- ReplayTV maker Sonicblue to file for Chapter 11 Dave Farber (Mar 22)