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 /PRNewswirel/ -- 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. 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 DATASOURCE: LG Electronics
USA, Inc. CONTACT: John I. Taylor of LG Electronics USA,
+1-847-941-8181, ; or Jennifer Baumgartner, +1-503-901-5371, , or
Investor Relations, Karen Fisher, +1-858-882-6415, , both of DivX,
Inc. Web Site: http://www.lgusa.com/
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