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SonicBlue files Chapter 11

Written by Petteri Pyyny (Google+) @ 21 Mar 2003 13:33

SonicBlue, the legendary MP3 player manufacturer that was once known as Diamond, has filed for a bankruptcy and has agreed to sell its ReplayTV and units.
Diamond was the company who brought the first mainstream MP3 player to the emerging MP3 markets and helped the MP3 phenomenom to grow alongside the other legends, Napster and WinAMP.

Company reported a loss of $33.4M for the fourth quarter on Wednesday, down from $52.7M losses a year ago. SonicBlue has been fighting against media giants virtually throughout its heydays -- the music industry tried to ban its portable MP3 players back in late 1990s, but SonicBlue won the case. Company's other famous product, ReplayTV that allows users to record TV shows digitally to harddrive-based settop box, has been hit by a lawsuit as well, TV stations and Hollywood trying to ban the product.

SonicBlue has agreed to sell the Rio and ReplayTV units to Japanese D&M Holdings that is better known as the owner of Marantz and Denon brands.

More info: ZDNet UK

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