Sony, Accenture form venture to manage media programming

By Bloomberg, Singapore.CNET.com
Monday, April 23, 2001 07:51 PM
LAS VEGAS--Sony Corp and closely held Accenture Ltd, formerly Andersen Consulting, said they formed a joint venture to help media companies and broadcasters create, manage and archive digital programming.

Terms weren't disclosed. The venture, Concadia Solutions LLC, will offer software, services and equipment for companies that need to manage media content such as videos, music, photos and images, according to a release distributed by PR Newswire.

As the market for television and video programming grows, broadcasters are increasingly interested in technology to manage their programming, the companies said.

New York-based Accenture forecasts that revenue from digital television, interactive-TV services such as video on demand, and cable TV will reach about US$30.1 billion by 2005.

The companies announced the venture at the National Association of Broadcasters in Las Vegas. Concadia will be based in San Jose, California.

Tokyo-based Sony's American depositary receipts, which represent one common share, fell US$1.95 to US$74.86 in US trading Friday.


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