Technology

Posted: Mon., Aug. 13, 2001, 9:38pm PT

RSS
Email Author
Print Article
Email Article
Digg
Discussions

File's done: Peacock uploads NBCi for $85 mil

Cyberbiz Brief

NBC has completed its $85 million purchase of NBC Internet Inc., which operates the NBCi.com Web site. The San Francisco-based company's shares have declined 78% as losses have mounted.

NBCi, founded in 1999 as a portal to compete with Yahoo and Disney's Go.com, was hit hard by the souring advertising market, which represented 44% of the division's revenues. It had a loss of $1.92 billion in the first quarter alone.

NBC paid $2.19 for each share of NBC Internet and also stopped trading of the company's stock. NBC had owned 39% of NBC Internet.

In April, Peacock execs said NBCi.com would be scaled back to focus on promoting NBC's network and cable channels and feature links to NBC.com, MSNBC.com and CNBC.com.

TALKBACK:

Have an opinion about this article? Be the first to comment


Tressa, one of the many stars of A&E's 'Intervention,' talks about her lengthy battle with methamphetamine. ; reality show; intervention; A&E; emmy contenders; drug addicts; variety; Interviews with Erick McCormack, Daniel Dae Kim & Christa Miller, stars of A&E's new sci-fi thriller, 'The Andromeda Strain.'; Erick McCormack; A&E; tv; sci-fi; The Andromeda Strain; variety; Daniel Dae Kim & Christa Miller;


Q What are the top 3 things affecting our industry today?
A. Matthew - The drama, the way people are being treated through the media, and the ongoing effects of ... more >


Submit this form
© 2008 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. Use of this website is subject to its Terms & Conditions of Use. View our Privacy Policy.