DivX Shutting Down Stage6 Video Service; To Migrate Content To Alternate Platforms
By Joseph Weisenthal - Mon 25 Feb 2008 06:39 AM PST
After hinting in December that it may not spin off its Stage6 user-gen video service, DivX (NSDQ: DIVX) has announced plans to shut down the site, effective almost immediately. Last July, the freshly public company said it was looking to spin off the site, as part of a plan to shore up its finances. But a search for strategic alternatives bore no fruit, and it now says it will pull the plug on February 28. The move is intended to refocus the company on DivX’s core technology and it intends to work with certain content publishers to migrate its own content onto other platforms. Release.
Posted in: Money, Social Media, Video Sharing
