CNM Short Takes

WSi sells wireless stakeWSi Interactive Corp, which currently holds a 40% stake in Ariel Wireless Technologies Inc, is swapping its shares for six million shares of Petra Resource Corp. On completion of the deal, Ariel will become a wholly owned subsidiary of Petra. Theo Sanidas, WSi's president, will become a director of Petra on closing. Ariel's main asset is a worldwide, non-exclusive OEM agreement with a "leading European provider of wired and wireless communication hardware and software products" which overcome last-mile hurdles using RF components in the unlicensed 2.4 GHz frequency. WSi is a Vancouver-based incubator of content and infrastructure startups. GlobalMedia buys OnRadio's station contractsGlobalMedia.com, Vancouver, has paid $500,000 and 1.7 million shares to acquire all of OnRadio.com's contracts to provide Internet services to terrestrial radio stations. The deal will close in four months. OnRadio is based in Scotts Valley CA. The aggregated audience is in excess of 50 million people which makes GlobalMedia one of the largest providers of Internet streaming, hosting, ecom, content and other services to the radio broadcast market. Canada helps South American street kids get wiredCanada's International Development Research Centre is contributing $280,000 towards the development of an Internet project to help street kids in Latin America. Two telecentres are being built, in Ecuador and Colombia, under the project leadership of Fundacion Renacer in Colombia and Fundacion Chasquinet in Ecuador. The project will establish a street kids portal and initial network. Internet family sing-alongCanoe Inc has introduced a new online entertainment service called Canoe Karaoke. The company has used streaming media technology from eatsleepmusic.com to put hundreds of songs online with lyrics. Eatsleepmusic has existing relationships with popular artists, and record labels including EMI, Warner/Chapel, Sony/ATV, BMG and Polygram. Company executives promise "fun for the whole family." Heritage strikes expert panel to develop French contentHeritage Canada has given a new committee of Francophone experts the mandate to create a virtual site for the French Canadian community on the Internet. The move is part of a number of commitments by the Canadian government to increase the presence of French on the Internet so that the French language will make up 50 per cent of the new content supported by the feds. The ten-person panel, plus one western member to be announced shortly, is made up of members from across the country, and is drawn from the broadcasting and education communities. The committee will present its preliminary recommendations this fall.Varcom changes moniker, refocuses on creativeVarcom, a Vacouver-based subsidiary of Healthnet International Inc, has changed its name to Nject (www.nject.com). Executives say the company's new name better reflects its focus on creativity. The company builds web sites, and has developed a tool which can assess users' online habits and tailor their web experience appropriately. The company has offices in Vancouver and Halifax. Itemus sells Vancouver-based Intense SoftwareOne of itemus Inc's incubator investments, Vancouver-based Intense Software Inc has sold itself to Creo Products Inc, also of Vancouver. Intense develops and markets software for the graphic design, pre-press and print production industries. It was sold to Creo for US$16 million. Itemus had invested US$700,000 in intense software in March 2000 through its VC subsidiary, IdeaPARK.com Ventures. The investment produced a greater than 70 per cent return. TI and Imax collaborate on all-digital cinema projectorsTexas Instruments and Imax Corp, Toronto, have agreed to work together to develop, manufacture and market projectors based on DLP Cinema projection technology. Terms of the agreement weren't announced, but TI will make available to Imax a technology that will form the heart of a new generation of all-digital cinema projectors for both standard and large-format venues. Canadian domain names set for transferOver 80,000 existing and future .ca domain names will be transferred to the new Canadian Internet Registration Authority (CIRA) by the fall of 2000. CIRA is wresting control of the registry from the University of British Columbia, which has been voluntarily maintaining the database for the past twelve years. One provision of the agreement, the "goodwill" gift of $4.3 million to UBC coffers, has raised eyebrows in the Canadian Internet community. CIRA officials promise the new overseer will make the registration of domain names a less convoluted and bureaucratic a process. "Census" of new media industry underwayThe Multimediator Strategy Group is ramping up for its second annual survey of new media producers. Sam Punnett, VP of R&D with the organization says the survey will be comprehensive, covering funding, size, skills and core capabilities. The interview process should begin in July, with a report ready this fall. Taken in conjunction with last year's results, Punnett says the survey should be a valuable strategic tool allowing the tracking of important data over time, and serving as a "census" for the Canadian industry. Devine, WSi to kick-start children's portalWSi Interactive Corp and Devine Entertainment Corp have announced that WSi management will assume the business functions of Devine's children's portal, Devinetime.com, in return for WSi taking 50% ownership of the venture for $1 million. The two companies plan to spin the company off into a separate public entity. Devine will continue to provide creative content. The Devinetime site has been developed over the past year at a cost of $1 million, with the support of both Devine Entertainment and Bell New Media Initiatives. The site will be an "interactive journey through time," containing content derived from Devine's library of children's films. Travelbyus wins ecom alliance with Rogers CableTravelybus.com Ltd has won the right to be the primary travel supplier to Rogers Cablesystems Inc's VIP customers, providing travel product offerings and special discounts and services. In turn, Rogers will actively carry out the promotion of joint programs in its advertising. The companies have also agreed to create a Rogers/VIP travel section on Travelbyus' website, available to VIP members only. Customers will also have the option of booking by phone, or physically making arrangements in one of over 2,700 locations.

CNM Short Takes

News | 06/14/2000 4:00 am EDT

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