TechTV is no more. Will now be part of G4
03-25-04, 02:23 PM
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TechTV is no more. Will now be part of G4
Comcast has purchased TechTV.
http://www.wired.com/news/business/0...w=wn_tophead_2
08:40 AM Mar. 25, 2004 PT
SAN FRANCISCO -- Tense TechTV employees, numb from months of speculation about their future, were told during an emotional all-hands meeting late Wednesday afternoon that Comcast is buying their company.
That announcement, made official by Comcast on Thursday, ends months of speculation that the cable TV giant planned to buy the struggling technology news outlet. Paul Allen's Vulcan Ventures, which first invested in TechTV in 1998, had owned the cable channel outright since early 2000.
Although terms of the sale were not announced, informed sources say that Comcast will pay close to $300 million for TechTV.
Comcast will fold TechTV into its own games channel, G4.
"I think this is a tremendous vote of confidence that Comcast has in video games," says G4's CEO Charles Hirschhorn, who will stay in charge when the merger is completed. "This one transaction triples all the performance measures we would look for. It triples our distribution, (and) it triples the amount of programming we produce. It's a huge win for G4 and TechTV."
It was not immediately known what the sale means for TechTV employees. Joe Gillespie, the company's chief operating officer and executive vice president, informed them of the sale on Wednesday, but didn't say whether Comcast intended to slash headcount or relocate TechTV to G4's hometown, Los Angeles.
"The only thing I know is that right now there's two channels, and they're going to become one," says Hirschhorn. "They each have their own infrastructure. In terms of where those assets will remain, or who will remain where, it's too early to make those calls. Obviously, Comcast has made a tremendous investment in G4 and it's our job to figure out what has the most value, what's the best return on their investment."
Either way, industry observers think that TechTV and G4 are a good fit, and that both Comcast and TechTV will benefit because of the merger.
"There's very good programming on TechTV that deserves to survive," says Laura Behrens, a senior media analyst at Gartner/G2, "and with an owner on the scale of Comcast, it now probably has a chance to survive."
But TechTV had been struggling for some time and after multiple rounds of layoffs it had been seen as an attractive acquisition target.
And because no one yet knows whether TechTV will suffer further layoffs, the mood at the company late Wednesday was grim, especially because the sale won't put to rest uncertainty over employees' futures.
"After a while, I stopped paying attention," said one TechTV employee, speaking on condition of anonymity, about the acquisition rumors. "I stopped keeping track."
Wednesday's meeting began as a pep talk, the employee says, but as question after question to Gillespie went unanswered, the atmosphere soured.
"I overheard people saying it felt like we were all about to be laid off," the TechTV employee says, adding that some workers broke out champagne and scotch -– "whatever booze they had" -– and began drinking after the announcement.
"It was like a party atmosphere," he says, "but in a bad way."
In the meantime, observers who have been predicting for months that Comcast would buy TechTV are by no means certain what happens now.
"It will be interesting to see whether (G4 will) keep the video-game focus," says James Hibberd, a reporter for Television Week who broke rumors of the acquisition in December. "That's always been problematic. There's a lot of history of networks trying and failing to capture video gamers by programming video game-related content."
Similar miscalculations about viewer appetites most likely led to TechTV's lean years, says Behrens.
"There were a lot of changes that were made as the (technology) bubble burst," she says, "and it became clear that just because there was a TV channel about technology when there was a technology boom going on didn't mean that the TV channel was going to survive" afterwards.
Yet, TechTV has maintained a sizable and loyal following over the years, and beyond its attractiveness as a potential distribution partner for G4, its programming was also attractive to Comcast.
Comcast is "trying to make sure it has the content to feed this massive pipe," says Behrens. "They're the largest pay TV entity in the United States, with 21, going on 22, million subscribers. They want to have some substantial control over the prices and the nature of the content that they put into their pipeline."
However, Hibberd cautions that Comcast shouldn't plan to use the acquisition to change TechTV's focus without some serious thought, especially if it wants TechTV to remain on all its existing cable TV outlets.
That's because, Hibberd said, changing G4 is much less problematic since its distribution is much smaller than TechTV's and its biggest carrier is its owner, Comcast. Making changes to TechTV could be much trickier.
"Basically, G4's new identity will presumably gain from TechTV's distribution," he said, "but they have to be careful what they do with it, because if they make radical changes to the programming, the cable operators could accuse them of breaking their contracts and give them a big headache."
Still, according to Danielle Lavitas, an analyst with IDC, TechTV reaches about four times as many households as G4, so G4 should come out ahead either way.
In any case, with no immediate word on their futures, TechTV employees are likely to continue the worrying they've been doing during the months of public rumors about an acquisition.
But there's at least one sign that things may be OK.
According to the TechTV employee, the company's executive Web producer asked Gillespie at Wednesday's meeting if he should continue his hiring search for an open position. The answer he got was "yes."
http://www.wired.com/news/business/0...w=wn_tophead_2
08:40 AM Mar. 25, 2004 PT
SAN FRANCISCO -- Tense TechTV employees, numb from months of speculation about their future, were told during an emotional all-hands meeting late Wednesday afternoon that Comcast is buying their company.
That announcement, made official by Comcast on Thursday, ends months of speculation that the cable TV giant planned to buy the struggling technology news outlet. Paul Allen's Vulcan Ventures, which first invested in TechTV in 1998, had owned the cable channel outright since early 2000.
Although terms of the sale were not announced, informed sources say that Comcast will pay close to $300 million for TechTV.
Comcast will fold TechTV into its own games channel, G4.
"I think this is a tremendous vote of confidence that Comcast has in video games," says G4's CEO Charles Hirschhorn, who will stay in charge when the merger is completed. "This one transaction triples all the performance measures we would look for. It triples our distribution, (and) it triples the amount of programming we produce. It's a huge win for G4 and TechTV."
It was not immediately known what the sale means for TechTV employees. Joe Gillespie, the company's chief operating officer and executive vice president, informed them of the sale on Wednesday, but didn't say whether Comcast intended to slash headcount or relocate TechTV to G4's hometown, Los Angeles.
"The only thing I know is that right now there's two channels, and they're going to become one," says Hirschhorn. "They each have their own infrastructure. In terms of where those assets will remain, or who will remain where, it's too early to make those calls. Obviously, Comcast has made a tremendous investment in G4 and it's our job to figure out what has the most value, what's the best return on their investment."
Either way, industry observers think that TechTV and G4 are a good fit, and that both Comcast and TechTV will benefit because of the merger.
"There's very good programming on TechTV that deserves to survive," says Laura Behrens, a senior media analyst at Gartner/G2, "and with an owner on the scale of Comcast, it now probably has a chance to survive."
But TechTV had been struggling for some time and after multiple rounds of layoffs it had been seen as an attractive acquisition target.
And because no one yet knows whether TechTV will suffer further layoffs, the mood at the company late Wednesday was grim, especially because the sale won't put to rest uncertainty over employees' futures.
"After a while, I stopped paying attention," said one TechTV employee, speaking on condition of anonymity, about the acquisition rumors. "I stopped keeping track."
Wednesday's meeting began as a pep talk, the employee says, but as question after question to Gillespie went unanswered, the atmosphere soured.
"I overheard people saying it felt like we were all about to be laid off," the TechTV employee says, adding that some workers broke out champagne and scotch -– "whatever booze they had" -– and began drinking after the announcement.
"It was like a party atmosphere," he says, "but in a bad way."
In the meantime, observers who have been predicting for months that Comcast would buy TechTV are by no means certain what happens now.
"It will be interesting to see whether (G4 will) keep the video-game focus," says James Hibberd, a reporter for Television Week who broke rumors of the acquisition in December. "That's always been problematic. There's a lot of history of networks trying and failing to capture video gamers by programming video game-related content."
Similar miscalculations about viewer appetites most likely led to TechTV's lean years, says Behrens.
"There were a lot of changes that were made as the (technology) bubble burst," she says, "and it became clear that just because there was a TV channel about technology when there was a technology boom going on didn't mean that the TV channel was going to survive" afterwards.
Yet, TechTV has maintained a sizable and loyal following over the years, and beyond its attractiveness as a potential distribution partner for G4, its programming was also attractive to Comcast.
Comcast is "trying to make sure it has the content to feed this massive pipe," says Behrens. "They're the largest pay TV entity in the United States, with 21, going on 22, million subscribers. They want to have some substantial control over the prices and the nature of the content that they put into their pipeline."
However, Hibberd cautions that Comcast shouldn't plan to use the acquisition to change TechTV's focus without some serious thought, especially if it wants TechTV to remain on all its existing cable TV outlets.
That's because, Hibberd said, changing G4 is much less problematic since its distribution is much smaller than TechTV's and its biggest carrier is its owner, Comcast. Making changes to TechTV could be much trickier.
"Basically, G4's new identity will presumably gain from TechTV's distribution," he said, "but they have to be careful what they do with it, because if they make radical changes to the programming, the cable operators could accuse them of breaking their contracts and give them a big headache."
Still, according to Danielle Lavitas, an analyst with IDC, TechTV reaches about four times as many households as G4, so G4 should come out ahead either way.
In any case, with no immediate word on their futures, TechTV employees are likely to continue the worrying they've been doing during the months of public rumors about an acquisition.
But there's at least one sign that things may be OK.
According to the TechTV employee, the company's executive Web producer asked Gillespie at Wednesday's meeting if he should continue his hiring search for an open position. The answer he got was "yes."
03-25-04, 02:52 PM
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yuk, this sucks, its probably the only channel I watch consistently on my dish and we dont even get G4 around here, looks like its time to change my packages.
03-25-04, 03:02 PM
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Originally posted by mariakitty
so if we aren't on comcast, no more techtv? That really bites!
so if we aren't on comcast, no more techtv? That really bites!
http://www.g4tv.com/techtvmerger/
G4 and TechTV Merger - Quick Facts
Overall Merger:
Q: How does the merger expand G4's subscriber growth?
A: The merged network will be available to 44 million cable and satellite customers, representing every major MSO and satellite provider (28 million cable and 16 million satellite). G4, launched in April, 2002, is currently available in 15 million homes in 47 of the nation's top 50 television markets.
Q: What MSO's and satellite companies will carry the combined network?
A: Comcast; Time Warner; Mediacom; Insight; Cablevision; Charter; Adelphia; Cox; Cable One; Dish; and DirecTV.
Q: Who will be the network's chief executive?
A: Charles Hirschhorn, currently founder and CEO of G4, will oversee the merged network as CEO.
Q: Will the two services run independently of each other or be immediately combined?
A: The two channels will merge into one network. In the meantime, both G4 and TechTV will continue to air as independent channels, pending customary regulatory approvals underway.
Q: Where will the network be headquartered?
A: The merged network will be headquartered in Los Angeles.
Programming:
Q: What will a typical programming day look like?
A: The merged network will be the nation's premier 24/7 television network all about video games, technology and the gamer lifestyle. The G4 programming day will showcase many existing G4 and TechTV series such as G4's ICONS; PULSE; JUDGMENT DAY; PLAYERS, and CHEAT! as well as TechTV's ANIME UNLEASHED; X-PLAY; SCREEN SAVERS; FRESH GEAR; and ROBOT WARS. G4 will also premiere new original programming which will be announced at a later date.
Q: How many hours of original programming will the merged network produce?
A: After the networks merge, G4 will air more than 20 series and 800 episodes per year. New programs continue to be in development.
Q: Who is the network's target audience?
A: The network will target a core audience of 12-34 year olds and the 145 million people in the US who spend upwards of $11 billion annually on video games.
Last edited by MonkeyG; 03-25-04 at 03:18 PM.
03-25-04, 03:06 PM
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gee....
taking techtv away from non-comcast subscribers would be very undude!
I hope they find a way to keep bringing it to all those who want it.
unlike the whole howard stern debacle in south florida.
taking techtv away from non-comcast subscribers would be very undude!
I hope they find a way to keep bringing it to all those who want it.
unlike the whole howard stern debacle in south florida.
03-25-04, 03:32 PM
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Q: What MSO's and satellite companies will carry the combined network?
A: Comcast; Time Warner; Mediacom; Insight; Cablevision; Charter; Adelphia; Cox; Cable One; Dish; and DirecTV.
What the hell? They just single handedly cut out all non-american viewers! I guess we don't matter to the wankers who control comcast.
A: Comcast; Time Warner; Mediacom; Insight; Cablevision; Charter; Adelphia; Cox; Cable One; Dish; and DirecTV.
What the hell? They just single handedly cut out all non-american viewers! I guess we don't matter to the wankers who control comcast.
03-25-04, 03:41 PM
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Originally posted by TheMadMonk
Actually, I'd prefer they fire Leo more than anyone else. But as I'm on DirecTV, who knows if I'll get to see it at all.
Q: What MSO's and satellite companies will carry the combined network?
A: Comcast; Time Warner; Mediacom; Insight; Cablevision; Charter; Adelphia; Cox; Cable One; Dish; and DirecTV.
Actually, I'd prefer they fire Leo more than anyone else. But as I'm on DirecTV, who knows if I'll get to see it at all.
Q: What MSO's and satellite companies will carry the combined network?
A: Comcast; Time Warner; Mediacom; Insight; Cablevision; Charter; Adelphia; Cox; Cable One; Dish; and DirecTV.
03-25-04, 03:49 PM
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Originally posted by TheMadMonk
Actually, I'd prefer they fire Leo more than anyone else.
Actually, I'd prefer they fire Leo more than anyone else.
He always seemed like the most entertaining and professional presenter. Perhaps that's why he's the host of EVERY SINGLE SHOW!?!
Looks like Charter will carry it. They didn't ever offer G4, so it might not be so bad after all...
03-25-04, 04:56 PM
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Right now I get Tech TV but no G4 on Time Warner. Although I'm a big fan of some Tech TV shows, there aren't that many good shows. If this merger causes some of the crap to be replaced with solid videogame content, it's a good thing.
03-25-04, 04:58 PM
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G4 is utter crap. They have 4 shows and they rebroadcast them OVER AND OVER AND OVER AND OVER AND OVER AND OVER again and again.
Uh. 70% of the shows on tech tv are better than anything G4 shows. Hell, you can fill tech tv with G4's entire programming line up by just replacing the robot wars broadcast.
"There's very good programming on TechTV that deserves to survive,"
03-25-04, 05:05 PM
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I could care less about Robot Wars... i thought that show was cool when i was like 12. I could see shows like Tech Live & Wired For Sex goin' out the door as well. I don't think they pull in the ratings all that well.
They better keep Unscrewed, X-Play, Screen Savers, and Call For Help w/o any changes. I used to hate Leo LaPorte when I first started watching but he actually does have some good stuff nowadays. i would hate to see G4 staff try to integrate with those shows.
They better keep Unscrewed, X-Play, Screen Savers, and Call For Help w/o any changes. I used to hate Leo LaPorte when I first started watching but he actually does have some good stuff nowadays. i would hate to see G4 staff try to integrate with those shows.
03-25-04, 05:11 PM
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Originally posted by Jackskeleton
G4 is utter crap. They have 4 shows and they rebroadcast them OVER AND OVER AND OVER AND OVER AND OVER AND OVER again and again.
G4 is utter crap. They have 4 shows and they rebroadcast them OVER AND OVER AND OVER AND OVER AND OVER AND OVER again and again.
03-25-04, 07:04 PM
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He'll also be hosting Call For Help everyday for as long as that lasts, albeit mostly in taped shows but still.
Anyway, this only means the worse for Tech TV as it's quite obvious Comcast has plans to phase it out and stick with G4. The present CEO of G4 is going to run the new merged network which means idiotic garbage that's going to be aimed at 10 year olds. Basically, just look at G4 now and picture it with a few extra shows that may or may not be absolute trash.
Anyway, this only means the worse for Tech TV as it's quite obvious Comcast has plans to phase it out and stick with G4. The present CEO of G4 is going to run the new merged network which means idiotic garbage that's going to be aimed at 10 year olds. Basically, just look at G4 now and picture it with a few extra shows that may or may not be absolute trash.
03-25-04, 07:29 PM
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Damn, I was just starting to like Unscrewed.
Whats the over under on Adam Sessler's career? 2 months?
X-Play: with Morgan Webb has a nice ring to it.
Notice that Call For Help wasn't mentioned. Cat will have to tell her wild lesbian rave stories somewhere else.
I bet Sarah is so happy that she'll get to host Screensavers with her boyfriend Kevin. Until he meets the hotties over on G4....
Patrick Norton will make a damn good salesman at Best Buy.
D
Whats the over under on Adam Sessler's career? 2 months?
X-Play: with Morgan Webb has a nice ring to it.
Notice that Call For Help wasn't mentioned. Cat will have to tell her wild lesbian rave stories somewhere else.
I bet Sarah is so happy that she'll get to host Screensavers with her boyfriend Kevin. Until he meets the hotties over on G4....
Patrick Norton will make a damn good salesman at Best Buy.
D