OpenTV Loses Software Contract With DirecTV
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OpenTV Corp. said it lost a contract to provide its interactive-television software to DirecTV, the largest U.S. satellite-TV provider, after the companies failed to agree to new terms. OpenTV shares fell as much as 13%.
The existing agreement will expire Dec. 22, OpenTV said. The company, based in San Francisco, will deactivate about 10.4 million set-top boxes currently on the DirecTV network.
OpenTV was asked to extend the old contract only until News Corp.’s planned acquisition of DirecTV was completed, an analyst said. News Corp. plans to replace OpenTV software with a product from London-based NDS Group. NDS is 78% owned by News Corp., the analyst said.
Shares of OpenTV fell 51 cents, or 10%, to $4.43 on Nasdaq.
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