Move Networks Announces Review of Strategic Alternatives Following Successful Transformation into End-to-End Digital MSO P

Roxanne Austin to Step Down as President and Chief Executive Officer; Marcus Liassides to Oversee Move’s Day-to-Day Operations

IRVINE, Calif.--(BUSINESS WIRE)-- Move Networks, a global provider of comprehensive solutions that deliver live, multi-channel television over the Internet, announced today that it intends to retain a financial advisor to assist the Company in evaluating strategic alternatives, including a possible sale of the Company. No timetable has been set for completion of the review and there can be no assurance that any transaction will occur. During this process, Move remains committed to supporting its IPTV customers in the U.S., Europe and the Middle East.

“With Move Networks’ transformation into an end-to-end digital MSO platform that delivers full, linear aggregated live programming now successfully completed, the Company has become an increasingly attractive asset to a range of potential partners,” said Dan Beldy, Managing Director of Steamboat Ventures and a member of Move’s Board of Directors. “As a result, the Board has therefore determined that the time is right to undertake a disciplined exploration of the full range of value maximizing opportunities.”

Move’s streaming technology is based on its proprietary adaptive bit-rate technology, whereby large video files are broken up into many small files called streamlets, which are then delivered as a series of video segments using a highly efficient transmission protocol. The Company also owns Inuk Network’s leading end-to-end IPTV service. Over the last year, Move has combined the best of its streaming technology with Inuk to yield a comprehensive subscription service that couples live, multi-channel television, full PVR in the cloud capability and the mobility, functionality, and interactive features of the Internet to provide a rich multimedia experience for consumers on their television, personal computer, and mobile device.

Move also announced that Roxanne Austin will step down as President and Chief Executive Officer, following a brief transition period, and that Marcus Liassides, Executive Vice President of Sales and Business Development, will be promoted to President and will oversee the Company’s day-to-day operations.

“Roxanne’s tireless leadership and clarity of vision have been instrumental in driving Move’s successful transformation from a video-streaming technology company to a leader in providing television over the Internet,” said Drew Major, Chairman of Move’s Board of Directors. “We are extremely appreciative for all of her efforts and wish her luck in future endeavors.”

As Move evaluates its strategic alternatives, the Company will focus its operations on maintaining the existing MSO platform and continuing to serve existing customers and potential new partners. In order to conserve cash on hand during this evaluation process, Move announced a reduction of its workforce.

About Move Networks

Move Networks is a global provider of comprehensive solutions that deliver the next generation of live, multi-channel television over the Internet. Leveraging its award-winning adaptive streaming technology, Move Networks integrates middleware, content management, subscription packaging, billing, and digital rights management to deliver a rich television experience through the Internet. Move’s platform enables revenue generation through both subscription-based services, as well as enhanced advertising solutions. Leading investors include: Steamboat Ventures, Hummer Winblad Venture Partners, Benchmark Capital, Microsoft, Cisco, Comcast and Televisa.

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Diane Henry or David Isaacs
415-618-8750
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Michael Henson
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KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:   Entertainment  TV and Radio  Technology  Internet  Networks  Telecommunications

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