AMD Sells Digital TV Business

AMD said today that it has sold its digital TV business to semiconductor firm Broadcom. According to Broadcom, it will pay approximately $192.8M in cash in exchange for AMD's digital TV business, and will also hire around 530 employeed of AMD's digital TV team. AMD's digital TV unit develops ICS and processors used for digital TV processing. Broadcom said the digital TV line includes AMD's Xilleon integrated DTV processors, NXT receiver ICs, Theater 300 DTV processor, and other related digital television processing assets. In a statement, AMD President and CEO Dirk Meyer said the move will help the comany become "leaner and more focused while seeking to create a business model to deliver sustainable profitability."