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Charter to Use Liberate Software

March 30, 2001|Reuters

Charter Communications Inc. has agreed to use Liberate Technologies Inc.'s interactive TV software to provide Internet access to digital cable TV viewers. Terms were not disclosed. Liberate said the deal will increase its current-quarter expenses by $2 million, resulting in a wider-than-expected loss. More than 300,000 Charter digital subscribers will get TV set-top boxes with Liberate's software, allowing them to surf the Net, get video-on-demand, download music and perform other functions. Shares of San Carlos, Calif.-based Liberate rose 25 cents to $8.06, while Charter gained 63 cents to $21.56, both on Nasdaq.

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