Although Circuit City was not able to capitalize on its inventions, the video distribution model it envisioned has become the mainstream," said Gabe Fried, Managing Principal of Streambank. "These patents were developed by Circuit City in order to leapfrog the traditional video rental process. Although the DIVX system is no longer available, the technology developed by DIVX remains relevant to the areas of compression, distribution, security, usage tracking of movie content, anti-piracy, digital media and watermarking. patents and patent applications as well as multiple related foreign patents.Ĭircuit City launched Digital Video Express in the late 1990's to develop an internet based, direct to home video rental solution that eliminated late fees for consumers and protected digital content. The portfolio consists primarily of patents developed in connection with Circuit City's former Digital Video Express (a/k/a DIVX) initiative.
A motion is being filed with the Bankruptcy Court for the Eastern District of Virginia seeking entry of an order granting the sale free and clear status. Competitive bids are due by August 12th and an auction will be held on August 16th. Streambank LLC has been engaged by the Trust to conduct the sale process. The sale is subject to higher and better offers. LLC for a cash purchase price of $750,000. Liquidating Trust has entered into an agreement to sell its remaining patent portfolio to Imaging Transfer Co. NEEDHAM, Mass., J/PRNewswire/ - The Circuit City Stores Inc.
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