Microsoft to the rescue: Web TV's. (acquires WebTV Networks)
HFN: The Weekly Newspaper for the Home Furnishing Network, April, 1997 by Richard,s Kathleen
Microsoft Corp. will acquire WebTV Networks for $425 million in cash and stock. The acquisition is expected to help expand the market for Web TV's service and to fuel its sales. WebTV provides Internet and e-mail via television sets to consumers. The company's service has generated little demand. Only between 50,000 and 100,000 units have been sold by retailers since October 1996. Microsoft will now be able to enter the television market because of the acquisition.
REDMOND, Wash. -- Microsoft Corp.'s agreement to acquire WebTV Networks last week is expected to rescue floundering WebTV sales in a highly anticipated convergence category that so far has generated little demand.
The publisher agreed to buy WebTV Networks Inc., Palo Alto, Cal. for $425 million in stock...
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