The much argued Divx format is now officially burried. Digital Video Express, LP announced today that it will cease marketing of Divx home video system and discontinue operations. According to Digital Video Express and Circuit City the main reason behind the decision was the lack of supports from studios and other retailers. Circuit City Stores, Inc. is incurring an after-tax loss of $114.0 million related to the disposal of the Divx business.
Digital Video Express will provide a $100 cash rebate to all consumers who have purchased Divx players prior to June 16, 1999. This rebate is due to the fact that Divx players have been more expensive than comparable DVD players.
Check out the press release from Digital Video Express, LP.
Check out the press release from Digital Video Express, LP.
