Summary:

Look how the mighty have fallen. After being a stock market darling for most of late 1990s, Liberate Technologies, a brainchild of Oracle founder Larry Ellison has now been sold to Comcast-Cox backed Double C Technologies for a mere $82 million. The company had filed for […]

Look how the mighty have fallen. After being a stock market darling for most of late 1990s, Liberate Technologies, a brainchild of Oracle founder Larry Ellison has now been sold to Comcast-Cox backed Double C Technologies for a mere $82 million. The company had filed for bankruptcy protection in May. Steve Silva, Comcast executive VP at Comcast described the deal as a way to make its set-top boxes more interactive. “What you do on your PC you can now do on your TV,” he told Boston Globe. Mitchell E. Kertzman, former chairman and chief executive of Liberate (now a venture capitalist) told Boston Globe that “the cable companies decided to buy Liberate’s assets in part because of the competitive threat posed by DirecTV.” Or should we say the return of the interactive TV madness?

By Om Malik

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