MS to invest in Net multimedia firm Progressive

Progressive Networks' model for audio streaming over the Internet will receive a huge boost this evening when Microsoft is expected to announce a significant investment in the firm, best known for its RealAudio and RealVideo on-demand multimedia player software.Details of the deal will be posted at 5pm UK time on the firm's Web site, an hour ahead of a press conference relating to the announcement.

Progressive Networks' model for audio streaming over the Internet will receive a huge boost this evening when Microsoft is expected to announce a significant investment in the firm, best known for its RealAudio and RealVideo on-demand multimedia player software.

Details of the deal will be posted at 5pm UK time on the firm's Web site, an hour ahead of a press conference relating to the announcement.