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Tuesday, February 26, 2008
DivX to Shut Down

DivX will cease operation of its video a video file-sharing service service on February 28, 2008.

"Our core business is to work with a wide variety of partners to give consumers a high-quality digital video experience on any device or platform," said Kevin Hell, CEO of DivX, Inc. "By no longer expending resources on Stage6, we sharpen our focus on creating a global standard for digital video while building a business that maximizes shareholder value. We will provide more information related the shutdown on our fourth quarter earnings call, scheduled for March 11, 2008."

Videos on will be available for viewing and download through February 28, 2008. The Company said that it would work with certain content publishers to migrate content to alternative web distribution platforms.

Stage6 launched last July and tried to gain some of the popularity in the video file-sharing community arena, dominated by MySpace and YouTube.

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