NBC joins portal battle in time for shakeout
Article Abstract:
NBC recently entered the portal battle by agreeing to acquire an unspecified minority stake in Snap, the online directory service of CNET Incorporated. Both companies will operate the online service as a joint venture. NBC also announced that it will hold an option to boost its ownership in Snap to 0% as well as acquire a 4.99% stake in CNET. The company believes that the deal will give Snap leading brand association, advertiser connections and a level of promotion unprecedented in the Internet portal market. Portal refer to those Internet firms trying to become entry points on the Web for masses of people, thereby gaining the right to charge large advertising dollars such as online giants Yahoo and American Online.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1998
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CoolSavings gets $5 million investment
Article Abstract:
CoolSavings, a Chicago, IL-based online coupon company, announced that it has sold 10% of its stake to Lend Lease, an Australian-based property and financial services group, for $5 million. The transaction includes options for Lend Lease to boost its holding to 30%. CoolSavings, which currently claims a database of 1.1 million shoppers, allows advertisers to use detailed member-supplied demographic information to deliver targeted offers to the site and to special on-site member e-mail boxes. Members then download the offers as coupons redeemable at local retailers.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1998
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Bertelsmann to acquire CDNow for $117 million
Article Abstract:
Bertelsmann AG has entered into an agreement to purchase online music retailer CDNow Inc for $3 per share in cash, or approximately $117 million. Bertelsmann AG, a German media conglomerate, plans to make CDNow a wholly owned subsidiary of the Bertelsmann e-Commerce Group, a division which it formed early in 2000. The purchase comes in the wake of CDNow's planned merger with music club direct marketer Columbia House which was later canceled.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 2000
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