DivX Spinning Out Stage6

DivX Inc. (Nasdaq: DIVX) announced that it is spinning off user-generated video site Stage6 into its own private company. The move is expected to occur later this year, dependent on Stage6's ability to secure venture capital funding. DivX CEO Jordan Greenhall is stepping down in order to lead the process, while company president Kevin Hall will become acting CEO. www.divx.com www.stage6.com