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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: MARCH 21, 2003
(Date of earliest event reported)
SONICBLUE INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 0-21126 77-0204341
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
2841 MISSION COLLEGE BOULEVARD, SANTA CLARA, CALIFORNIA 95054
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 588-8000
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Item 3. Bankruptcy or Receivership.
On March 21, 2003, SONICblue Incorporated (the "Registrant"), together
with three of its wholly owned subsidiaries, Diamond Multimedia Systems, Inc.,
ReplayTV, Inc. and Sensory Science Corporation, filed voluntary petitions for
bankruptcy under Chapter 11 of the United States Bankruptcy Code (the "Code") in
the United States Bankruptcy Court ("Bankruptcy Court") for the Northern
District of California, San Jose Division.
The Bankruptcy Court assumed jurisdiction over the Registrant's assets as
of the date of the Registrant's bankruptcy petition. The Registrant, as a
debtor-in-possession, intends to remain in possession of its assets and to
continue to manage and operate its businesses and properties, subject to the
provisions of the Code and the supervision and orders of the Bankruptcy Court,
while seeking to sell some of its assets.
There can be no assurance, however, that the Registrant will remain a
debtor-in-possession and that a trustee will not be appointed to operate the
Registrant's business. Furthermore, no assurance can be given that the
Registrant will retain control of its assets during the pendency of the
bankruptcy case or that the Bankruptcy Court will approve the sale of assets as
currently proposed by the Registrant. The Registrant's current business
relationships and arrangements and the Registrant's ability to negotiate future
business arrangements may be adversely affected by the filing by the Registrant
of the bankruptcy petition.
On March 21, 2003, the Registrant issued a press release relating to the
foregoing. A copy of the press release is attached hereto as an exhibit and
incorporated herein by reference.
Except for the historical information contained herein, the matters set
forth in this Report, including statements as to the Registrant's ability to
retain control of its business and assets during bankruptcy and its ability to
sell its assets, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that could cause actual
results to differ materially, including, but not limited to, the availability
and feasibility of strategic options, general economic and industry conditions,
the impact of competitive products and pricing and of alternative technological
advances, the release of new products from the Registrant's competitors, the
ability of the Registrant and its suppliers and partners to meet scheduled
delivery and release dates, product engineering and marketing decisions of the
Registrant and others, and other risks detailed from time to time in the SEC
reports of SONICblue Incorporated, including its annual report on Form 10-K for
the year ended December 31, 2001 and its quarterly report on Form 10-Q for the
quarter ended September 30, 2002. These forward-looking statements speak only as
of the date hereof. SONICblue disclaims any obligation to update these
forward-looking statements.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release dated March 21, 2003.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: March 21, 2003.
SONICBLUE INCORPORATED
By /s/ Marcus Smith
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Marcus Smith
Vice President and Chief Financial Officer
INDEX TO EXHIBITS
Exhibit
Number Description
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99.1 Press Release dated March 21, 2003.