Cross-Platform Agreements to Bring Health & Wellness Commerce
To Television & the Internet
NEW YORK, MINNEAPOLIS, SAN FRANCISCO and EMERYVILLE, Calif., Feb. 9 /PRNewswire/ -- NBC, ValueVision International, Inc. (Nasdaq: VVTV), a leading national shopping network, and NBC Internet, Inc. (Nasdaq: NBCI) today announced multiple-year strategic alliances with SelfCare.com, a leading health and wellness e-commerce site targeting women and their families. The alliances give SelfCare.com an integrated, cross-platform media package spanning network and cable TV and the Internet, including: advertising and promotion, programming, e-commerce and email marketing on NBC, NBCi and ValueVision's SnapTV.
Under terms of the agreement, NBC and its affiliated partners, NBCi and ValueVision, will acquire minority equity stakes in SelfCare.com in exchange for cash and advertising across both NBC's network and Owned and Operated Stations, as well as Internet distribution and e-commerce services on NBCi's Snap. SelfCare.com also will use a combination of cash and equity to purchase programming, e-commerce, distribution and promotion packages on NBC, ValueVision's SnapTV home shopping network and NBCi's Snap Internet portal. Financial details regarding the transactions were not disclosed.
National Advertising
As part of the deal, NBC will provide SelfCare.com with promotion on the NBC television network and across NBC's 13 owned and operated stations. NBC will also receive a seat on SelfCare.com's board of directors, which will be held by Claudia Taylor, Vice President of Business Development for NBC. In addition, NBC will have access to SelfCare.com's health-related content as well as health and wellness experts.
SelfCare.com on SnapTV
ValueVision and SelfCare.com will co-produce programming for a one-hour weekly show on ValueVision's SnapTV home shopping television network, the fastest growing national shopping network that now reaches 31 million households. SelfCare.com, the TV show, will help consumers make informed decisions about their own and their families' health by demonstrating a wide range of products, sharing condition-related information and providing access to leading health experts. SelfCare.com will also be prominently featured in the shopping portion of ValueVision's Web site, VVTV.com, and will be highlighted in the health and beauty section.
E-Commerce Anchor Tenancy on Snap
As part of its agreement with NBCi, SelfCare.com has purchased an e-commerce anchor tenancy in the Health Channel of NBCi's Snap Internet portal and will become a featured merchant in the Healthy Living Shop of Snap's popular Snap Shopping service. SelfCare.com's distribution agreement with NBCi's Snap will be supported by multiple online media and direct email promotional campaigns.
"Partnering with the NBC family of offerings through NBC, NBCi and ValueVision gives SelfCare.com the kind of exposure and cross-platform opportunities unmatched by any other combined media entity. We can't think of a better set of partners to help us build on the foundation of our early successes in the online arena," said Jeffrey Rose, Chairman and CEO of SelfCare.com. "The combination of NBC broadcast and cable television advertising exposure, our own branded SnapTV programming and anchor tenancy on the Snap Internet portal will help solidify our position as the leading resource for health and wellness products, rich, credible information and extensive community support."
"The online health and wellness sector is booming, and SelfCare's integration of commerce and content provides the ideal environment for customers to make educated decisions about their families' well being and then act on them," said Marty Yudkovitz, president of NBC Interactive. "We're pleased to have the opportunity to expose NBC, NBCi and ValueVision's SnapTV viewers and online users to SelfCare.com's unparalleled offerings, and we look forward to working with SelfCare.com to leverage NBC properties to their best advantage."
"We're delighted to welcome SelfCare.com to our network of consumer- focused partners offering premium branded products in a rapidly growing marketplace," said Stuart Goldfarb, vice chairman of ValueVision. "This agreement will help SelfCare.com expand awareness of its products and services through the additional national exposure generated through new and interesting programming on ValueVision's SnapTV. Our viewers will benefit as well from receiving access, information and an opportunity to purchase SelfCare.com's wide-ranging product offerings at compelling values."
Chris Kitze, CEO of NBCi said: "SelfCare.com is an ideal anchor commerce tenant for Snap's Health Channel. We're looking forward to combining high quality health content from our existing anchor content tenant with top quality wellness products from SelfCare.com. This combination of powerful content with e-commerce opportunities creates a dynamic model for providing our users with the best of the Internet."
About NBC
NBC is a global media company with broadly diverse holdings. NBC owns and operates the NBC Television Network as well as 13 owned television stations. In the United States, NBC owns CNBC, operates MSNBC in partnership with Microsoft, and maintains equity interests in Arts & Entertainment, The History Channel, and Rainbow Programming Holdings, a leading media company with a wide array of entertainment and sports cable channels. NBC is the leader among traditional media companies in Internet and new media business. NBC owns 47 percent of NBC Internet Inc. (NBCi), serving as the media company's exclusive Internet portal and broad-based e-commerce service. NBC also holds equity stakes in CNET, Talk City, iVillage, Telescan, 24/7 Media, TiVo, Wink Communications, Gemstar, Intertainer and other new media companies. Also, together with Microsoft and Dow Jones, NBC operates CNBC/Dow Jones Business Video, offering video- and audio-based financial news and information to financial professionals and institutions. Internationally, NBC owns and operates CNBC: A Service of NBC and Dow Jones in partnership with Dow Jones & Company in Europe and Asia. In partnership with National Geographic and Fox/BSkyB, the network owns and operates the National Geographic Channel in Europe and Asia. Members of the media can get more information about NBC and its programming on the NBC Media Village Web site at www.nbcmv.com.
About ValueVision International
ValueVision International, Inc. owns and operates the third largest and fastest growing home shopping network and a companion Internet shopping web site, both which are being rebranded as SnapTV and SnapTV.com, respectively, as part of a wide-ranging direct e-commerce strategy the company is pursuing with NBCi. The moves are expected to position SnapTV and NBCi as the leaders in the ongoing convergence of television and the Internet, combining the promotional and selling power of television with the purely digital world of e-commerce. ValueVision, which is approximately 40% owned by GE Equity and NBC, offers live programming 24 hours a day, 7 days a week. As of October 31, 1999, approximately 31 million homes are able to receive the company's programming on either a full-time or part-time basis. For additional information on ValueVision, please visit the company's web site at http://www.vvtv.com.
ValueVision Interactive is a wholly owned e-commerce subsidiary of ValueVision. Founded in mid-1999, the subsidiary's purpose is to manage and develop the company's Internet e-commerce initiatives using the SnapTV.com brand, as well as manage the company's e-commerce investment strategies and portfolio.
About NBC Internet, Inc. (NBCi)
NBC Internet, Inc. (NBCi), a branded global integrated media company, commenced operations in November 1999. NBCi integrates major media platforms, including Internet, broadcast and cable television and radio, to deliver powerful ways for partners to connect with users and customers. NBCi's flagship Web site, Snap (www.snap.com), provides a comprehensive online experience to users worldwide via Internet search & directory, community, shopping, e-commerce, multimedia and entertainment services across all bandwidths.
NBCi was created through the combination of Snap, XOOM.com, NBC.com, NBC Interactive Neighborhood, AccessHollywood.com, VideoSeeker and a 10 percent equity stake in CNBC.com. NBC Internet publicly trades under the ticker symbol NBCI on The Nasdaq Stock Market(R). NBC, a subsidiary of General Electric (NYSE: GE), holds a 47 percent ownership stake in NBCi and brings to the venture the storied heritage of 70 years of branded media and technology innovations. NBCi is headquartered in San Francisco and has offices in New York City, Los Angeles, Chicago and Paris, France. For more information about NBCi and its constituent Internet services, please see the NBCi corporate Web site at www.nbci.com.
About SelfCare.com
SelfCare has led the movement toward self-managed health and wellness for 24 years. The company began as a health magazine, evolved into a catalog, and most recently, expanded its reach with its newly-designed Web site. SelfCare.com helps women make informed decisions about their own and their families' health and wellness by combining rich, credible information with hard-to-find, high-quality products and extensive community support. Headquartered in Emeryville, Calif., SelfCare.com can be reached at (510) 658-0970 or at www.selfcare.com
NBC Internet, Inc. Safe Harbor
This press release contains statements that are forward-looking. These statements are based on NBCi's expectations of its future results as of the date of this press release. NBCi undertakes no obligation to update these statements for revisions or changes after the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those listed from time to time in NBC Internet Inc.'s SEC reports, including but not limited to XOOM.com, Inc.'s Annual Report on Form 10-K for the year ended December 31, 1998; XOOM.com's Quarterly Reports on Form 10-Q for the periods ended March 31, 1999, June 30, 1999 and September 30, 1999; the Registration Statements on Form S-4 and Form S-1 filed by NBC Internet, Inc., as amended. Important factors that could cause the results to differ materially from those in any such forward-looking statements include: NBCi's limited operating history; unpredictability of its quarter-to-quarter results; its unproven business model and dependence on members; risks associated with its international operations; its reliance on a network infrastructure; its dependence on vendors and suppliers; management of its growth and expansion; risks associated with brand development; its reliance on advertising revenue; intense competition with other Web communities and businesses; the risks of infringement of intellectual property rights; risks associated with acquisitions; and reliance on strategic relationships.
ValueVision International Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release contains statements that are forward-looking such as statements relating to increased revenue and cable home distribution, the Company's future profitability, entrance into e-commerce, the launching of the Company's Internet initiative, SnapTV.com, the timing of the SnapTV rebranding, and the continuing success in developing new strategic alliances (including the GE Equity and NBC alliance). There are certain important factors, such as consumer spending and debt levels, interest rates, competitive pressure on sales and pricing, and the maintenance of distribution of the Company's programming that could cause results to differ materially from those forward- looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including the possibility that revenues and cable distribution will not continually increase, that gross profit margins will decrease, that e-commerce and the Company's rebranding to SnapTV will not be successful, and other strategic alliances (including the GE Equity and NBC alliance) may not result in increased revenues, earnings, or subscribers. For more information on the potential factors that could affect the Company's financial results, investors should refer to the Company's recent filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.
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