In a Snap, NBC takes on Net powers

Article Abstract:

NBC has agreed to acquire a 19% stake in Snap, CNET's Web directory service, from CNET, and about 5% of CNET. NBC, which may choose to acquire 60% of the joint venture for $38 million, will use its expertise in programming and marketing to boost Snap, which could be accessed through www.snap.com and offers news, weather and entertainment. NBC, which will offer ad spaces on Snap, plans to make Snap a public company to raise funds for other acquisitions. Meanwhile, NBC officials announced the acquisition will not affect MSNBC, its joint venture with Microsoft that has its own directory service called Start.

Comment:

Agrees to acquire a 19% stake in Snap, CNET's Web directory service, from CNET, & about 5% of CNET

Acquisitions & mergers, Television Broadcasting, Investment Companies, Open-End Investment Funds, Television broadcasting industry, National Broadcasting Company Inc., CNET Inc. (San Francisco, California), Snap

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CBS president: network 'just isn't for sale.'

Article Abstract:

CBS President Mel Karmazin said the company's television (TV) operation is not for sale. Karmazin said there are also no plans to separate the network from the stations, adding both operations complement with each other. However, Karmazin said that he will consult the company's board if there are offers to buy the TV network. He is also confident the TV network will turn a profit in 1999 despite skepticism that losses at the TV network will balloon as CBS starts to pay $500 million annually for its eight-year agreement to air National Football League games.

Comment:

President Mel Karmazin says the company's television operation is not for sale

Radio & TV Broadcasting, Radio and Television Broadcasting, Broadcasting industry, Broadcasting, CBS Broadcasting Inc.

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Food.com will deliver dinner, movie

Article Abstract:

Food.com will expand its services after it signs two deals with two other companies. Food.com's acquisition of Takeout Taxi will provide its customers with quick home delivery of meals. Its agreement with Blockbuster will create a combo delivery service that will include videos and games. It also provides an opportunity for Blockbuster to reach out to hard-to-reach customers. Food.com is also considering entering into agreements with wireless phone services and bookstores.

Food.com Inc.

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