Microsoft co-founder to shutter research institute
Paul Allen reportedly plans to shut down his pure research institute in favor of developing technologies to complement his large portfolio of cable TV and Net companies.
Allen said he will close Interval Research, open for eight years, after having spent almost $100 million on the institute. Of the 116 Interval Research scientists, who are credited with filing for 140 patents for Allen's research division, 30 will be offered employment at Allen's yet-unnamed Bellevue, Wash.-based cable TV research group, The Wall Street Journal reported on its Web site.
Charter Communications, the cable TV company owned by Allen, agreed in March to buy Cablevision Systems' cable business in Kalamazoo, Mich., for $172.5 million in stock.
Copyright 2000, Bloomberg L.P. All rights reserved.