Time Warner in Software Venture
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Time Warner Inc. has taken a 10% stake in Interactive Digital Solutions, a joint venture between Silicon Graphics Inc. and AT&T; Network Systems that provides multimedia software, the companies said Tuesday.
Under the agreement, Time Warner’s entertainment subsidiary will contribute rights to the software used in its Orlando, Fla., interactive television trial and pay “an amount less than $5 million” to become an equity partner in Interactive Digital, said Mike Luftman, a spokesman for Time Warner’s cable unit.
Silicon Graphics and AT&T; are already primary technology partners in the Full Service Network.
Interactive Digital was formed last June to develop and deliver large-scale, fully-integrated, multimedia software environments for telephone company networks and cable TV systems. The environments will be integrated with hardware from open systems suppliers to create a complete network solution for interactive services.
Time Warner stock fell 50 cents to $36.125, Silicon Graphics gained 62.5 cents to $36.50 and AT&T; jumped $1 to $50.125 in trading Tuesday on the New York Stock Exchange.
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