LG Electronics and DivX to Expand Strategic Alliance, Enable Future of Entertainment
January 06 2010 - 8:00AM
PR Newswire (US)
DivX TV(TM) Platform to Stream the Best of Online Media Directly to
Future LG 'NetCast' Blu-ray Disc Players and Home Theater Systems
LAS VEGAS, Jan. 6 /PRNewswire-FirstCall/ -- DivX, Inc.
(NASDAQ:DIVX), a leading digital media company, and LG Electronics,
a global leader and technology innovator in consumer electronics,
today announced plans for a strategic alliance to include the
newly-launched DivX TV(TM) Internet television platform in LG's
next-generation network Blu-ray Disc players and home theater
systems with NetCast Entertainment Access. (Logo:
http://www.newscom.com/cgi-bin/prnh/20081124/DIVXLOGO) DivX TV is a
technology platform that can be embedded or implemented through a
firmware update on any connected consumer electronics device at the
chip level to deliver a wide variety of Internet media content and
services without the need for a PC. Through the DivX TV interface,
consumers can access premium Hollywood movies, Web videos, digital
music services, popular social networking sites and more. The DivX
TV platform also enables users to stream their own personal digital
media content over a home network and offers full playback of a
variety of video formats, including all DivX® videos. The alliance
contemplates that the new DivX TV technology will be implemented on
LG's Blu-ray players and home theater systems with NetCast
Entertainment Access that enable consumers to stream content
directly to their living rooms. The first DivX TV firmware update
for LG NetCast Blu-ray Disc players and home theater systems is
expected to be available later this year. The DivX TV content
lineup currently includes more than 70 channels from a variety of
genres, including free Internet content as well as premium,
full-length films and television shows. Content providers include
Associated Press, CNET, Dailymotion, Picasa, Revision 3, Rhapsody,
TED, Twitter and many more, with a number of additional content
partners expected to sign on. "The DivX logo has become synonymous
with the ability to playback high-quality Internet video on
devices, and the addition of DivX TV technology to our product line
enhances the value of our NetCast feature in our Blu-ray products
for consumers," said Dr. Woo Paik, President and Chief Technology
Officer, LG Electronics, Inc. "DivX TV offers consumers a scalable,
easy-to-use and high-performance solution that brings great
Internet content and services directly in their home." "We are
excited that LG has chosen to pioneer the roll-out of DivX TV on
NetCast Blu-ray players and help usher in a new era of digital
entertainment," said Kevin Hell, Chief Executive Officer, DivX,
Inc. "Now, consumers can experience a wide variety of Internet
media and content by simply changing channels on a remote control.
LG Electronics has long been an early adopter of DivX technology
across multiple categories, and our new alliance allows LG to adopt
DivX TV for additional categories including HDTVs." LG has shipped
a diverse lineup of DivX Certified® consumer electronics products
over the last five years that playback DivX video on physical
media, including DVD players, Blu-ray Disc players, HDTVs, mobile
phones and other devices. DivX will be unveiling the DivX TV
platform at a private press event at the International Consumer
Electronics Show (CES) at the Moon nightclub at the Palms on
January 7, and demos of the platform will be publicly shown at the
LG CES booth (Booth #8205) as well as the DivX meeting rooms in the
South Hall of the convention center. For more information about LG
products, visit http://www.lgusa.com/ To learn more about the DivX
TV platform, visit http://www.divx.com/divxtv. About DivX DivX,
Inc. is a leading digital media company that enables consumers to
enjoy a high-quality video experience across any kind of device.
DivX creates, distributes and licenses digital video technologies
that span the "three screens" comprising today's consumer media
environment--the PC, the television and mobile devices. Over 250
million DivX devices have shipped into the market from leading
consumer electronics manufacturers. DivX also offers content
providers and publishers a complete solution for the distribution
of secure, high-quality digital video content. Driven by a globally
recognized brand and a passionate community of hundreds of millions
of consumers, DivX is simplifying the video experience to enable
the digital home. About LG Electronics, Inc. LG Electronics, Inc.
(KSE:066570.KS) is a global leader and technology innovator in
consumer electronics, mobile communications and home appliances,
employing more than 84,000 people working in 115 operations
including 84 subsidiaries around the world. With 2008 global sales
of $44.7 billion, LG comprises of five business units - Home
Entertainment, Mobile Communications, Home Appliance, Air
Conditioning and Business Solutions. LG is one of the world's
leading producers of flat panel TVs, audio and video products,
mobile handsets, air conditioners and washing machines. LG has
signed a long-term agreement to become both A Global Partner of
Formula 1(TM) and A Technology Partner of Formula 1(TM). As part of
this top-level association, LG acquires exclusive designations and
marketing rights as the official consumer electronics, mobile phone
and data processor of this global sporting event. For more
information, please visit http://www.lge.com/. Forward-Looking
Statements Statements in this press release that are not strictly
historical in nature constitute "forward-looking statements." Such
statements include, but are not limited to, any anticipated
benefits from the agreement between LG Electronics and DivX, Inc.,
the growth and earnings potential of the DivX business, and the
Company's position in the digital media space. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause DivX's actual results to be materially
different from historical results or from any results expressed or
implied by such forward-looking statements. These factors include,
but are not limited to: risks that the anticipated benefits from
the agreement between LG Electronics and DivX, Inc. may not be
realized, the risk that customer use of DivX technology may not
grow as anticipated; the risk that anticipated market opportunities
may not materialize at expected levels, or at all; the risk that
the Company's activities may not result in the growth of profitable
revenue; risks and uncertainties related to the maintenance and
strength of the DivX brand; DivX's ability to penetrate existing
and new markets; the effects of competition; DivX's dependence on
its licensees and partners; the effect of intellectual property
rights claims; and other factors discussed in the "Risk Factors'
section of DivX's most recent reports filed with the SEC. All
forward-looking statements are qualified in their entirety by this
cautionary statement. DivX is providing this information as of the
date of this release and does not undertake any obligation to
update any forward-looking statements contained in this release as
a result of new information, future events or otherwise, other than
as required under applicable securities
http://www.newscom.com/cgi-bin/prnh/20081124/DIVXLOGO
http://photoarchive.ap.org/ DATASOURCE: DivX, Inc. CONTACT:
Jennifer Baumgartner, +1-503-901-5371, or Investor Contact: Karen
Fisher, +1-858-882-6415, , both of DivX, Inc.; or John I. Taylor,
+1-847-941-8181, of LG Electronics USA Web Site:
http://www.divx.com/
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