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Sony to purchase stake in NextLevel Systems in digital TV alliance

Published on .

Web TV company NextLevel Systems and Sony announced Jan. 5 that they are joining forces to develop digital TV technologies. The companies are exploring ways to develop digital cable TV devices and high definition TV products. They will also examine ways to add new features like Sony's Home Network architecture into NextLevel's digital set-top boxes. Sony said when it reaches a definitive agreement with NextLevel it will purchase 7.5 million new shares of NextLevel common stock at $25 per share.

Copyright January 1998, Crain Communications Inc.

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