Citigroup lowered its ’06 revenue estimate for Charter to $5.42mln from $5.52mln following the MSO’s restated financials after completion of certain cable transactions. It lowered the ’07 rev estimate to $5.91mln from $6.02mln. Price target and rating remain unchanged as the restatements have no material impact on future cash flow. — VOD content firm Ripe Digital Entertainment announced $32mln in Series B financing from Hearst-Argyle, Time Warner, Columbia Capital and Rho Ventures. RDE will use the cash to launch more on demand TV networks, build its broadband and mobile strategy, and develop measurable advertising. — Motorola led a $16mln 3rd financing round for Ruckus Wireless to develop new broadband digital services for home networks. RW has supplied its Wi-Fi system to more than 75 global broadband operators.

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MTV, VH1 Commits $250mln to Diverse Content

ViacomCBS’ MTV Entertainment Group announced a commitment of $250mln over the next three years to help fuel the growth of content created and produced by BIPOC and women-owned and operated production companies.

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