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CNET News.com: Sony earmarks $200 million for broadband investments

Nov 17, 1999, 04:39 (1 Talkback[s])
(Other stories by Jim Davis, Michael Kanellos)

"Sony wants to reinvent itself as a 'broadband entertainment company' and says it will fork over around $200 million to other companies to make it happen. The consumer electronics giant has established a $100 million venture capital fund in the United States and created a similar fund for the Japanese market. Both will invest in a variety of companies..."

" 'We don't plan to build our own broadband infrastructure,' said Kazuo 'Kaz' Hirai, president of Sony Computer Entertainment America. 'We're talking to cable companies and making sure the technology details work together,' he said. Hirai talked during Idei's keynote about new capabilities of the highly anticipated Sony PlayStation 2, including the ability to download games to a machine, rather than having to buy them from a store. However, that would be a tedious download indeed at today's dial-up modem speeds. Sony is hoping to help establish infrastructure for cable and DSL (digital subscriber line) modems that can reach a large concentration of households."

"Sony has an obvious interest at stake in broadband investments. By investing in a faster Net, Sony is hoping to recoup the investment on its new PlayStation in a hurry."

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