Microsoft Teams Up on Net Video Plans

Microsoft Corp. said it reached an agreement to work with closely held Progressive Networks Inc. to develop technology that broadcasts sound and video over the Internet. As part of the agreement, Redmond, Wash.-based Microsoft made a 10%, nonvoting investment in the Seattle-based developer of technology used to send video and audio over the World Wide Web, a Microsoft executive said. The amount of the investment wasn’t disclosed. Microsoft said it will license RealAudio and RealVideo 4.0 technologies and incorporate them into its NetShow streaming software. Streaming software allows Net users to access audio and video instantly on the Web, instead of waiting for a file to download.