DivX TV does not require a PC or a set-top box to access online content. The platform can be supported on almost any kind of Internet connected device, including digital televisions, blu-ray players and gaming consoles.

"DivX TV revolutionizes the television experience by giving consumers quick and easy access to a virtually limitless universe of online content, and it’s as simple to operate as changing channels with a remote control," said Kevin Hell, CEO of DivX, Inc.

"Our partners will also be pleased to know that DivX TV is designed specifically to work with today’s mass market consumer electronics. It’s easy to implement and support and new content sources can be added with very little effort."

LG Electronics has signed as the first manufacturer to license the DivX TV platform for upcoming Blu-ray players and home theaters.

DivX TV will offer content including online video, movies, music channels, social networking and photo-sharing sites. Currently there are more than 70 content channels in place and the company says it expects to sign on more partners by the first launch of a DivX TV device.

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DivX accused Yahoo in November of abandoning a two-year advertising services agreement.  Dan Halvorson, Executive Vice President and CFO of DivX, sort of announced a win in a statement yesterday by saying, "We are pleased to have this matter resolved."

He then launched right into a finance-related discussion.

"The litigation settlement will increase our operating income in the third quarter of 2009," Halvorson continued.  "As a result, we have upwardly revised our GAAP earnings guidance for the third quarter by $0.29 per diluted share, or $0.17 per diluted share net of related taxes, and now expect GAAP earnings to be in the range of $0.10 to $0.12 per diluted share."

So Yahoo paid DivX something in the neighborhood of $9.5 million, according to Joseph Tartakoff‘s math.

That can’t thrill Carol Bartz, who’s been trying hard to reduce costs and save money since taking over the company.  Still, since Yahoo agreed to the settlement, the payout presumably represents a better alternative than continuing to fight the lawsuit.

DivX claims that this will have a big effect on its business, and doesn’t appear to be kidding around.  The lawsuit was announced at the same time it lowered revenue and earnings estimates, and its stock dove by about 22 percent today.

Dan Halvorson, DivX’s CFO and executive vice president, acknowledged in a statement, "Absent further developments, we believe this action by Yahoo! will impact the fourth quarter of 2008, as well as fiscal year 2009, since the Yahoo! agreement terminates by its terms on December 31, 2009."

So Kevin Hell, DivX’s CEO, has promised, "The Company will aggressively pursue legal action to ensure that Yahoo! honors its obligations under this agreement."

The lawsuit has been filed in California Superior Court in Santa Clara County, California.  No specific dates have been tied to future developments, and although no names have been given out, Divx has implied that it will look for new partners.

Johnston will exchange her regional VP role for emerging markets with Yahoo to senior VP for sales and marketing at media codec firm DivX.

“We are very happy to have Pamela join DivX,” said Jordan Greenhall, CEO and co-founder of DivX. “Her exceptional skills and experience will help to improve the operational effectiveness of the company.”

“DivX is a very exciting company at a crucial stage in its development,” said Ms. Johnston. “I look forward to working with the current team to continue DivX’s strong growth as it provides partners and consumers with a better media experience.”

Her transition out of Yahoo’s Sunnyvale headquarters closely followed the announcement that HotJobs power broker Dan Finnegan plans to leave the company at the end of June.

Finnegan will be looking for entrepreneurial opportunities after his exit from Yahoo’s job classified site. Yahoo’s continued hemorrhaging of top executives will keep fueling persistent speculation about the status of their top executive, CEO Terry Semel.

He has been on the Wall Street hot seat for some time. Investors could see the departures of executives beneath Semel as a reason to question the reorganization the company performed, as to its leadership effectiveness.

The New York events are September 30 and October 1 and the London events are October 3rd & 4th. HDFEST is pleased to have DivX onboard this year as a festival sponsor and official technology provider for the HDFEST 2005 World Tour. Festival Director Issac Alexander states, “HDFEST is excited to be partnering with DivX to showcase the impressive capabilities of DivX HD. We at HDFEST are very enthusiastic about the implications DivX offers for independent filmmaking. This is powerful technology with a myriad of applications.”

DivX HD compression delivers 720p HD video at 4Mb/s, allowing for an entire DivX HD movie to fit on a single standard DVD. DivX HD allows films to screen in High-Definition resolution using DivX Certified High Definition DVD players that are on the market today.

The HDFEST New York HD DivX DVD Presentation includes the World Premiere of Dan Turner’s “Experiment,” a psychological thriller created in Prague and the UK. In addition to its line-up of documentaries, dramas and comedies, HDFEST will also include HD animations and HD experimental film at the NY festival. These genres are recent additions to the HDFEST Deffie awards categories.

Animations to be presented include the New York Premiere and HD Premiere of “The Journey” and the New York Premiere of “oby.” Experimental pieces to be screened include the HD Premiere of Guy Roland’s critically acclaimed film “Spacer” and New York artist and NEA recipient Shelly Silver’s film “What I’m Looking for.”

John Stith is a staff writer for WebProNews covering technology and business.