By: Staff reports Streaming Media Network Gets a Boost
(The Hollywood Reporter)
Digital Island's share price soared more than 30% on Tuesday after the
network services provider embarked on a new broadcast media venture
with Compaq Computer, Intel, and Microsoft.
The marriage makes Digital Island the world's largest Internet
streaming media company and will give it the capacity to send as many
as 7.5 million media streams simultaneously, the company said.
Its stock jumped 1011/16 to 453/16. Digital Island will receive a $45
million investment from the three companies to expand its Internet
network during a two-year period. In addition, Compaq will provide $50
million in equipment financing to Digital Island and make another $50
million available to customers.
San Francisco-based Digital Island's once high-flying stock has been on
a roller-coaster ride the past year, dropping from a high of 15615/16
to as low as 85/8.
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