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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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