InvestorsOctober 4, 2000
Joint Venture Formed To Develop Digital Video Recording Capability In Advanced Digital Set-Top Terminals
NEW YORK--(BUSINESS WIRE)--Oct. 4, 2000-- Project DISCO Comprised of Charter Communications, Motorola, ReplayTV, and Vulcan Ventures
A joint venture to develop and integrate digital video recording (DVR) capabilities in advanced digital set-top terminals was announced today by Jerry Kent, President and CEO of Charter Communications, Inc. (Nasdaq:CHTR). In addition to Charter, the joint venture also includes Motorola, Inc.'s Broadband Communications Sector; ReplayTV Inc.; and Vulcan Ventures Inc.
Code named Project DISCO, Mr. Kent said the venture will initially focus on creating a set-top based DVR platform that will be designed for storing video, audio and Internet content.
During prepared remarks here today at "Communacopia," a Goldman, Sachs & Co. investment conference, Mr. Kent said, "It is our hope that Project DISCO will benefit the entire cable television industry by integrating DVR functionality into advanced digital set-tops, creating a more robust platform for future services, and allowing new applications to reside on the advanced digital set-top terminal. It combines Motorola's advanced interactive digital platform and ReplayTV's software along with software previously developed by Interval Research Corp., the former research and development laboratory arm of Vulcan.
"We expect Project DISCO to be to the digital platform what the VCR is to analog television - a product that can offer the ability to fast forward, rewind, record, stop, skip, and pause," said Mr. Kent. "By enhancing the customer's viewing experience, we will provide a greater value to the consumer."
A formal name for the product will be announced later. Terms of the venture were not disclosed.
With 6.3 million customers, Charter Communications, a Wired World(TM) company, is among the nation's largest broadband communications companies offering an array of advanced broadband services. Charter's Class A common stock is traded on the Nasdaq National Market under the ticker symbol "CHTR." More information about Charter can be found on the Internet at www.chartercom.com.
Motorola, Inc. is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales in 1999 were $33.1 billion. For more information, visit Motorola on the Web at www.motorola.com.
About Vulcan Ventures
Vulcan Ventures Inc. of Bellevue, Washington was founded by Paul G. Allen in 1986 to research and implement his investments. Through Vulcan Ventures, Allen invests in over 140 companies which offer products, services or technologies that fit his Wired World strategy and can contribute to or benefit from the technology and strategy of other companies within the group's extensive investment portfolio. For more information on Vulcan visit www.paulallen.com.
About ReplayTV, Inc.
ReplayTV, Inc., based in Mountain View, Calif., is the creator of ReplayTV, the original personal television service and the leading technology in digital video recorders. For more information, visit the ReplayTV website at http://www.replaytv.com or call toll free at 800/266-1301.
Statements in this press release regarding Charter Communications' business that are not historical facts may be "forward-looking statements." Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from any such forward-looking statements are identified in the reports and documents Charter files from time to time with the U.S. Securities and Exchange Commission.
|CONTACT:||Charter Communications, Inc.|
|Anita Lamont or Mary Jo Moehle, 314/543-2215 or|
|Motorola, Inc. Broadband Communications Sector|
|Jeanne Russo, 215/323-1873 or 877/943-6651 (pager)|
|Tricia Arana, 650/762-2804|