AT&T's U-verse video service could be a "multibillion-dollar" business around 2010, John Stankey, AT&T's group president for telecommunications operations, said Wednesday. In an investor presentation, he said the company plans to install U-verse in 40,000 homes weekly by year's end. U-verse has been competing with cable and satellite TV services but so far has gained less traction than Verizon's FiOS service.
Struggling German kids entertainment firm TV Loonland plans to slash jobs at its Munich headquarters, firing more than half of its 53 employees. Loonland is in the midst of a restructuring program as it tries to stay afloat. Last year, the group signed a debt-for-equity swap with its creditors, handing over up to 10% in Loonland in exchange for writing off the bulk of the company's €20 million ($30 million) debt. As part of its restructuring, Loonland is looking to sell off its U.K. distribution arm Metrodome. The German group produces and markets such kids TV brands as "Little Princess" and "Pettersson and Findus."
THQ in the clear
THQ said Wednesday that the U.S. Securities and Exchange Commission's investigation into its stock-option grant practices has ended and will not result in criminal or civil action. The video game firm said in August 2006 that it received a request for information related to stock-option grants from 1996-2006.
Lin TV mixed
TV station group Lin TV reported an improved fourth-quarter profit Wednesday even though revenue fell 15% to $108.6 million, driven by lower political advertising. Core ad revenue, however, rose 5%. Profit rose from $10.3 million to $27.7 million thanks to lower expenses.