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News > Technology
Lucent sets video Net-work
March 28, 2000: 9:37 a.m. ET

Venture with Metromedia Fiber to build first Internet video network
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NEW YORK (CNNfn) - Aiming to expand its broadband offerings, Lucent Technologies disclosed plans Tuesday to build what is said is the first video network designed exclusively for the Internet.
    The venture, GeoVideo Networks, will provide streaming and hosted video services through a global fiber network for business-to-business applications for entertainment, medical, financial, government and news applications. Consumer applications also will be available, such as video on demand and electronic cinema.
    Lucent said that, for example, television production crews will be able to send remote video to studios for editing through the GeoVideo Networks.
    Lucent said several public television stations will work with GeoVideos to co-market and sell GeoVideo's services and allow their production studios to be used by GeoVideo clients.
    graphic"The marriage of high-quality content and production expertise from PBS affiliates, along with robust technology from Lucent and its partners will create a powerful presence in local markets across the country," said Bill Baker, president of WNET-TV, PBS' New York affiliate.
    GeoVideo also will launch a PC-based product, the GeoVideo browser, for desktop access to videos. The browser is able to launch 30 video frames per second with audio within 16 separate video windows. The application will enable editors to edit and produce programs directly from the desktop.
    Lucent's New Ventures Group, Thomas Weisel Partners, Ocepak Group, Crest Communications and East River Ventures own GeoVideo Networks.
    graphicMetromedia Fiber Network Inc. will supply GeoVideo with the optical network infrastructure, and its subsidiary, AboveNet, will provide international Internet Protocol services.
    In October 1999, Bell Atlantic Corp. (BEL: Research, Estimates) paid $1.7 billion for a 19 percent stake in Metromedia Fiber Network as part of a deal to get low-cost access to the company's fiber-optic network.
    In Monday trading, Lucent (LU: Research, Estimates) closed up 1-1/4 to 65-1/4 and Metromedia Fiber (MFNX: Research, Estimates) rose 1- 7/16 to 99-1/2. Back to top

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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.