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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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