Corel’s Linux spinoff delayed

“Corel chief Derek Burney was hoping to clinch the anticipated spin-off of Corel’s Linux operation in time to trumpet it this week at
LinuxWorld in New York. Alas, the deal hasn’t come off yet and Burney said Thursday morning that it could be another month in the making.

It has been widely reported that Corel will be spinning the unprofitable unit out into a new company being set up by the New York-based
venture capitalist Linux Global Partners, which has interests in swat of small Linux concerns.

Burney said last week that there has been internal fear that negative market reaction could kill the deal.” From LinuxGram.