Internet development company NetChannel is due to be taken over, it has emerged. According to industry sources NetChannel, which is based in the US but has a fledgling UK operation, is being eyed by a number of companies which are interested in developing their new media businesses. Virgin, in particular, is said to be interested.
While NetChannel UK is still in its infancy, its US operation is better established and is much bigger than its main rival, Web TV, which is more prominent in the UK.
NetChannel UK’s main business at the moment is marketing and developing its NetStation product, the set-top box which allows TV viewers to access the Internet without the need for modems or other hardware.
The NetStation, and similar products which are being developed by Web TV, is regarded by many as the development which is needed for the Internet to grow into a mass medium. For this reason, the acquisition of NetChannel would be strategically important for a company which wanted to get involved in the new media arena.
NetChannel however refused to comment on the rumour, saying that it was just industry speculation.
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