Mark Cuban, entrepreneur owner of the Dallas Mavericks basketball team, and Gary Lauder, managing director of Lauder Partners LLC, have together pumped US$1 million into Flingo, a smart TV app publisher operated by Free Stream Media Corp. The investment adds to Flingo's $7 million Series A led by August Capital. Flingo's software brings interactivity and social networking to TVs and second screens such as tablets, PCs and smartphones. Its partners include Samsung Corp. , LG Electronics Inc. (London: LGLD; Korea: 6657.KS) , Vizio Inc. , Sanyo Electric Co. Ltd. (Nasdaq: SANYY), Insignia (Best Buy), Western Digital Corp. (NYSE: WDC) and Netgear Inc. (Nasdaq: NTGR).
Technicolor (Euronext Paris: TCH; NYSE: TCH) has asked that trading in its shares be suspended ahead of a board meeting Wednesday that will weigh a proposal from an "international institution" that wants to take a minority stake in the vendor. Technicolor promised to shed more light on the situation after the meeting.
Motorola Mobility LLC 's Home segment, which includes its cable equipment business, posted first-quarter revenues of $884 million, down 2 percent from a year ago.
LG will release two TV models based on the Google TV platform, targeting the U.S. market, later this month. A 47-inch model will be priced at $1,699, and a 55-incher at $2,299, reports PaidContent, noting that Samsung, Vizio and Sony Corp. (NYSE: SNE) are teeing up new Google TV products for release later this year.