Tuesday, April 06, 2010

iPad -- While Other OVP's May "Support" It, Sorenson Media Alone Optimizes Video For It

Ahh, the iPad -- a plethora of OVP press releases of late vow to "support" it.

But, in a first and only amongst OVPs, Sorenson Media not only supports video playback on the iPad, we uniquely optimize video playback on the iPad to deliver our hallmark highest quality video. This is a substantial difference that is explained more in our just-issued press release (click here to see the full release).

We are committed to continue to be at the forefront of innovation and differentiate ourselves from all other OVPs by delivering the highest quality video on any device and with the highest quality overall customer experience. Expect to hear more about this very soon.

(Separately, and no surprise to me at all, my wife cast me aside when I returned home tonight with an iPad in my hands -- after spying the prize, she gave me a cursory hug, grabbed it out of my hands, and continues to be happily watching a movie on it while I write this post -- and is in the camp of believing that the iPad is absolutely a game-changer).

NewTeeVee Story Clarified

Earlier today, Ryan Lawler wrote a story in NewTeeVee about one of Sorenson Media's shareholders -- a family Trust of the late James Sorenson, Sr. -- exploring alternatives as a result of a long-planned Trust-mandated future transfer of essentially all its assets (including the Trust's shares in Sorenson Media) to a charitable foundation (specifically, the Sorenson Legacy Foundation). The article correctly pointed out that the Trust's exploration was driven solely by potential adverse tax consequences resulting from a for-profit holding (Sorenson Media) being transferred to a non-profit charitable foundation.

In general, the article is factually correct. However, it is worth underscoring:

(1) the Trust's exploration of alternatives, including the sale of its share holdings, is driven solely by the its legal obligation to transfer its shares to a non-profit charitable foundation (and the potential adverse tax consequences resulting therefrom);

(2) this transfer of assets from the Trust of James Sorenson, Sr. to the Sorenson Legacy Foundation was planned and public since the establishment of the charitable foundation long ago;

(3) it is the Trust alone (a shareholder) -- and not Sorenson Media (the company itself) -- that is exploring such alternatives;

(4) Sorenson Media has a long history of profitability; has a very healthy balance sheet; is in no need of cash; and is not looking for new funding;

(6) this planned transfer of share-holdings is anticipated to have no impact on the company's customer relationships, partnerships, plans or overall strategy.