Xelios (822510) writes "DivX announced today that it will be shutting down its high-quality video sharing site, Stage6, on February 28.
The news comes after the former CEO of DivX stepped down last year to head Stage6, which was to become a seperate company, and the still ongoing legal battle with UMG."
So why are we shutting the service down? Well, the short answer is that the continued operation of Stage6 is a very expensive enterprise that requires an enormous amount of attention and resources that we are not in a position to continue to provide. There are a lot of other details involved, but at the end of the day its really as simple as that.