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Microsoft reaches end of cable with stake sale | |
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| Time: 00:00 EST/05:00 GMT | News Source: E-Mail | Posted By: Todd Richardson | ||
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Microsoft has sold its stake in stricken UK television business Telewest for just £3m, bringing an end to its failed policy of buying into cable companies around the world. The computer giant invested £1.6 billion in Telewest just three years ago as part of a strategy to sell software for cable systems and television set top boxes. Microsoft has since written off about $7 billion in the value of its cable holdings and cut back its investments in the industry after finding few customers. | ||
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| #1 By 1868 (141.133.144.55) at 5/29/2003 6:16:26 PM |
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Ouch, sounds like a raw deal for Microsoft.
But as consumers I would argue that we are worse off because cable is/has failed to get users to sign up...which in turn means that we are still stuck with the lousy 56k standard. Without wider adoption and subsequently more investment into highspeed access I don't forsee the internet offering much more than it currently does in the next 5 years. I hope I'm wrong but its not a pretty picture. |
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