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http://www.insanely-great.com/news.php?id=1872
SONICblue to file Chapter 11
By ron carlson, Insanely Great Mac
March 24th 2003
The company is planning to sell off its assets
SONICblue has announced that it and three of its subsidiaries will file voluntary
petitions for reorganization under Chapter 11. SONICblue also announced that it has
signed a non-binding letter of intent with D&M Holdings, the Japanese parent company
of audio-equipment subsidiaries Denon and Marantz, under which the company has agreed
to sell assets ReplayTV and Rio business units.
Further, SONICblue has entered into a definitive agreement with Opta Systems, a wholly
owned subsidiary of Carmco Investments, which is expected to acquire substantially all
of the assets of SONICblue?s GoVideo business unit for $12.5 million.
Editor's note: One iPod competitor is "tits up and squealing." However, it's highly
unlikely the Rio will disappear at least just yet.
This bit of press can't help but put a damper on the Rio's sales, which can't but help
Apple.
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