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In the summer of 2000, Play Industries spun off a new company, the Play Streaming Media Group (PSMG). PSMG has since acquired its own parent company, Play, and by the close of last month, the company was officially relaunched as GlobalStreams-complete with a new president and CEO to head the operation.
Rumors of financial distress had been plaguing the company and circulating throughout the industry over the last year, but PSMG's strategic purchase has actually saved the Silicon Valley-based Play Industries as well as its key assets, including the GlobeCaster and Trinity broadcast technologies.
GlobalStreams is a new company, focussing on broadcasting solutions and services that provides production, presentation, and delivery capabilities to companies that want to create and distribute live or on-demand television-quality broadcasts, over any medium, including the Internet.
"Our philosophy is simple," explains Ted Briscoe, GlobalStreams president and CEO and former president of the Internet search engine Ask Jeeves. "Reduce the cost and complexity of creating and distributing one of the most proven communications mediums available-television broadcast-and use it to extend reach and improve customer relationships."
Along with the announcement of its...