DivX, Inc., a digital media company, today announced that the Company will cease operation of its Stage6.com video service on February 28, 2008.
Following an exploration of strategic options that began in July 2007, the Company has decided to cease operation of the site and focus its resources on the Company's core DivX technology licensing business while also continuing to power the distribution of DivX video content on third-party sites.
"Our core business is to work with a wide variety of partners to give consumers a high-quality digital video experience on any device or platform," said Kevin Hell, CEO of DivX, Inc. "By no longer expending resources on Stage6, we sharpen our focus on creating a global standard for digital video while building a business that maximizes shareholder value. We will provide more information related the Stage6.com shutdown on our fourth quarter earnings call, scheduled for March 11, 2008."
Videos on Stage6.com will be available for viewing and download through February 28, 2008. The Company will work with certain content publishers to migrate content to alternative web distribution platforms.
Link: Stage6
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