LiveUniverse Stages Hostile Takeover for Stage6

By Sergio Published on .

LiveUniverse issued a release saying its offer to purchase DivX’s Stage6 was denied, prompting a hostile takeover of the Web video site. LiveUniverse’s release says DivX shut down its site last month rather than engage in negotiations with the company. LiveUniverse offered DivX $11 million in cash, stock and promotion hoping to add the site to its roster of video sharing services, including Revver, another recent addition to the company. LiveUniverse asks Stage6’s shareholders to intervene.
-Sergio Ibarra
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