Video - Sunday, March 9, 2008
LiveUniverse Offers $11M To Unreceptive Divx For Stage6
This is an odd duck. We understand hostile takeovers the likes of Microsoft for Yahoo but publicly offering just $3M in cash, plus $8M in free ads for Divx, plus equity for a small potatoes startup makes no sense. But that is just what LiveUniverse is doing in their unorthodox attempt to acquire Stage6, a video sharing site that was shutdown by its owner DivX this February 29th. Moreover, its very odd that Divx is not interested in taking an $11M bid for a property that they have just deemed unworthy of further investment. In fact, if you visit the site, Stage6 is sending traffic to former rival Veoh.
LiveUniverse is the video vehicle run by former MySpace money man Brad Greenspan, who recently bought struggling Revver. The play seems to buy buy up a number of video sites that have some traffic but not great traffic and hope for the best.
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