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News > Technology
Microsoft gets Real
July 21, 1997: 7:42 p.m. ET

Company to take minority interest in streaming audio, video pioneer
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NEW YORK (CNNfn) - Microsoft Corp. said Monday it was taking a minority stake in Internet media streaming pioneer Progressive Networks.
     Financial terms of the deal were not disclosed, but analysts estimated Microsoft invested $30 million for a non-voting stake in the 3-year-old Seattle-based company known for its RealAudio and RealVideo streaming multimedia technology.
     The companies also said they would work together to develop industry standards aimed at accelerating the growth of real-time video and audio on the Internet and corporate intranets.
     Under a licensing arrangement, Redmond, Wash.-based Microsoft will include Progressive Networks technology in forthcoming versions of its Internet Explorer Web browser and its own NetShow streaming media server.
     "Microsoft believes streaming audio and video technology is and will continue to be a critical technology for providing rich information on the Internet and corporate intranets," said Paul Maritz, Microsoft's group vice president for platforms and applications.
     "Progressive Networks has strong technology that we will be licensing...," he said.
     Both RealVideo and RealAudio allow multimedia content to be viewed over the Internet without having to be first downloaded into the random access memory of a computer.Back to top
     --Cyrus Afzali

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.