Entropic Sweetens Pot to Win Trident
Some settlement on cable's M&A front kicks off today's cable news roundup.
Entropic Communications Inc. (Nasdaq: ENTR) emerged Monday as the top bidder for bankrupt chipmaker Trident Microsystems Inc. (Nasdaq: TRID) after putting up $65 million, a $10 million increase to its original stalking horse offer in January. In Trident, the Multimedia over Coax Alliance (MoCA) specialist will expand further into chipsets for set-top boxes and become a source of silicon for Docsis cable modems. Entropic said it will make employment offers to Trident's 375 employees, and expects to close the deal by the end of the first quarter. (See Entropic Takes $55M Stab at Trident.)
Adobe Systems Inc. (Nasdaq: ADBE) is placing a greater emphasis on mobile video and TV Everywhere with Project Primetime, a platform that aims to publish subscription and ad-supported premium video to major device platforms, including iOS, Android, PCs and a wide range of connected TVs. Adobe's new unified video publishing workflow, which will start off with support for the iPad and add other platforms latter this year, also bakes in the video advertising system it purchased from Auditude late last year. (See Adobe Buys Auditude.)
Clearwire LLC (Nasdaq: CLWR) shares fell 6 percent on Friday (Feb. 24) after it was revealed that Google (Nasdaq: GOOG) is selling its stake in the WiMax specialist for $47 million, $453 million less than its original investment in 2008. Clearwire's cable investors -- Time Warner Cable Inc. (NYSE: TWC), Bright House Networks and Comcast Corp. (Nasdaq: CMCSA, CMCSK) -- are no longer selling the company's WiMax service, but so far have not ditched their respective stakes in Clearwire. Those MSOs have since struck service bundling deals with Verizon Wireless . Clearwire shares were down 4 cents (1.9%) to $2.07 in morning trading Monday. (See Verizon Wireless: Cable’s New BFF and Comcast, TW Cable to Halt Clearwire Sales.)
If you're waiting to see Netflix Inc. (Nasdaq: NFLX) video streaming on BlackBerry mobile devices, get used to it. Netflix tweeted last week that it does not "have any current plans to support Blackberry devices, including Playbook," RIM's first tablet. (See RIM Hopes New OS Will Rewrite the PlayBook .)
— Jeff Baumgartner, Site Editor, Light Reading Cable