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07.24.2007 - DivX Announces Plans to Maximize Value and Growth Potential of Core Businesses and

View DivX related news. San Diego, CA -- July 24, 2007 -- DivX, Inc. (NASDAQ: DIVX) today announced that it is taking steps to maximize the value and growth potential of the Company's core businesses and As part of these efforts, DivX plans to increase focus on its high margin, fast-growing technology licensing business by seeking to separate Stage6 into its own private company. Co-Founder and Executive Chairman Jordan Greenhall is stepping down from his role as Chief Executive Officer to lead the process of separating Stage6, which, if successful, is expected to be completed later in 2007. A committee of independent directors will assist in determining the terms and conditions of any such separation.

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NID: 17200 / Submitted by: TACKtech Team
Categories: File Editors and Viewers, Press Release, Video Applications
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