Stockholders of NBC Internet Inc. -NBCi- Approve NBC Merger.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & SAN FRANCISCO--(BUSINESS WIRE)--Aug. 8, 2001 NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. and NBC Internet, Inc. announced today that NBCi's stockholders have approved the merger of NBCi with a wholly-owned subsidiary of NBC. The merger is expected to close on August 13, 2001. ABOUT NBC INTERNET, INC. NBC Internet Inc. (NBCi) is an Internet company whose flagship consumer Internet portal, NBCi.com, provides Internet search and directory, information, community, e-commerce, and entertainment services for both narrowband and broadband users. NBCi was launched in November 1999 through the combination of NBC and CNET's Snap.com, Xoom.com, NBC.com, NBC Interactive Neighborhood, VideoSeeker, and a ten percent equity stake in CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. .com. NBC Internet publicly trades under the ticker NBCI on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (R). NBC, a subsidiary of General Electric Company (GE), holds 38.6 percent ownership stake in NBCi. NBCi has its headquarters in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . ABOUT NBC The nation's first broadcast network, NBC has evolved into a diverse, international media company. In addition to the NBC Television Network and 13 television stations, the company owns CNBC, operates MSNBC MSNBC Microsoft/National Broadcasting Company in partnership with Microsoft, and maintains equity interests in Arts & Entertainment, the History Channel, and Rainbow Media Holdings, Inc. NBC owns equity stakes in several media companies in addition to NBCi. International holdings include CNBC Europe CNBC Europe is a business and financial news channel broadcast in Europe. It is the European version of CNBC. It is operated by NBC Universal, and headquartered in London. and CNBC Asia, which are services of NBC and Dow Jones, and an equity position in National Geographic Channels International. FORWARD-LOOKING STATEMENTS This press release includes forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ materially. These statements are often identified by words such as "expect", "anticipated" and "intend". These forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected, anticipated or implied. The forward-looking statements address the following subject, among others: expected date of closing the merger and timing and benefits of the merger. Statements regarding the expected date of completion of the transaction are subject to the risk that the closing conditions will not be satisfied. For risks about NBCi's business, see its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000, as well as its other SEC filings. |
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