Comcast & Cox Team to Buy Liberate Assets

Say goodbye to the once high-flying Liberate Technologies, at least in the U.S. and Canada. Comcast Corp. and Cox Communications are buying Liberate's North American assets for about $82 million in cash under a deal announced Monday. Comcast and Cox are forming a joint venture, Double C Technologies, to take over Liberate's interactive TV software patents and license agreements on this side of the Atlantic. Comcast will be the majority partner. Under the deal, financially ailing Liberate will retain control of its European business. So it will continue to serve its three European MSO customers--NTL, Telewest and UPC--at least for the time being. But, in a conference call with analysts and reporters Monday, Liberate executives were vague about their long-term plans in Europe.
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