Blog Post

LiveUniverse Looking To Acquire Video Site Stage6… Which Has Been Shut Down

This is a new one even for Brad Greenspan… after having established a reputation for attempting to thwart deals (News Corp.-MySpace, News Corp.- Dow Jones (NYSE: NWS), Linktone (NSDQ: LTON) -PT Media Nusantra Citra), now he’s trying to stop a site from closing down. His company LiveUniverse has made a bid for, the video sharing site from DivX (NSDQ: DIVX) which was recently shut down. Having recently acquired struggling video site Revver, the company wants to pay $11 million for Stage6, in a combination of cash, free advertising, and equity participation for DivX shareholders. The announcement is typical for him, lashing out at the DivX management, while encouraging shareholders to get on the company for its reluctance to talk, all in a somewhat paranoid sounding manner. Full details here. “Taking the issue public is obviously an attempt to embarrass DivX’s board into negotiating. But Greenspan’s accusations do highlight some curious decisions by DivX’s administration.”