Hoover's and The FORTUNE Group Announce Comprehensive Strategic Alliance
Deal to Include Content Integration, Subscriptions, Advertising and E-Commerce
AUSTIN, Texas - February 5, 2001 -- Hoover's, Inc. (Nasdaq: HOOV), a leading provider of online business information, tools, and content integration and syndication technology, and The FORTUNE Group at Time Inc., part of AOL Time Warner Inc. (NYSE: AOL), today announced a strategic agreement to collaborate on online content integration, subscriptions, advertising and e-commerce initiatives.
The FORTUNE Group is composed of FORTUNE, FSB: FORTUNE Small Business, and eCompany Now magazines, and their corresponding Web sites: FORTUNE.com, fsb.com and ecompany.com. AOL Time Warner is one of Hoover's largest shareholders, owning approximately 17 percent of Hoover's.
Under the new strategic agreement, Hoover's will license certain types of its proprietary company information to FORTUNE.com, including Hoover's Company Capsules on more than 17,000 public and private companies worldwide and Hoover's Industry Snapshots on more than 56 industries. FORTUNE Group publications and Web sites will provide content for Hoover's Online (www.hoovers.com), including several of the annual FORTUNE lists, such as the FORTUNE 500, America's Most Admired Companies and 100 Best Companies to Work For, and articles from FSB and eCompany Now. In addition, the companies will deliver to each other a variety of cooperative promotional programs - including advertising, promotions and sponsorships within Hoover's and FORTUNE's online and print properties.
"This agreement builds on our long-standing relationship with the AOL service, and increases Hoover's awareness to a very important demographic, while also bringing FORTUNE's unparalleled content directly to our users," said Patrick Spain, Hoover's CEO.
"Hoover's provides some of the best company information available on the Web, so this alliance will be of great value to our readers, who look to us in print and online for the best analysis on business," said Jack Haire, president of The FORTUNE Group.
About The FORTUNE Group
The FORTUNE Group at Time Inc. is comprised of FORTUNE, FSB: FORTUNE Small Business, and eCompany Now. FORTUNE, a biweekly business magazine is known for its unrivaled access to industry leaders and decision-makers. With a worldwide circulation of one million, and a worldwide readership of more than six million, FORTUNE reaches a wide and influential audience every two weeks. FSB: FORTUNE Small Business is published under an agreement between Time Inc. and American Express Publishing Corporation. eCompany Now, a monthly magazine and Web site venture based in Silicon Valley, covers the challenges and opportunities of doing business on the Internet.
Hoover's, Inc. The FORTUNE Group
Lisa Glass Caroline Plauchè
512-374-4500 212-522-2134
lglass@hoovers.com Caroline_Plauche@timeinc.com |
