NZRO news...
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Tuesday November 16, 9:07 am Eastern Time
Company Press Release
NetZero to Acquire AimTV Full-Motion Television Commercials to Hit the Internet
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Nov. 16, 1999-- NetZero (Nasdaq:NZRO - news), a leading national provider of free Internet access and email, today announced that it has signed an agreement to acquire AimTV, Inc. in a stock-for-stock transaction. AimTV has developed a patent pending technology designed to enable advertisers to run broadcast-quality television commercials over narrowband Internet connections. According to the agreement, NetZero will acquire AimTV for approximately one million shares of NetZero stock. The closing of the acquisition, which is subject to various closing conditions, is expected prior to the end of the calendar year.
''Many major advertisers have been eagerly awaiting the arrival of technology to enable them to run their 30 and 60 second television commercials over narrowband Internet connections,'' said Mark R. Goldston, NetZero chairman and chief executive officer. ''The unique capabilities of AimTV technology will give NetZero the opportunity to combine the powerful one-to-one marketing capability provided by our zCast(TM) targeting technology with the visual impact of television-quality commercials. NetZero will take what essentially has been dead space on the user's screen during a typical Internet dial-up process and will turn it into a dynamic environment.''
''We are extremely excited about a combination with NetZero,'' said Brian Woods, chief executive officer of AimTV. ''AimTV was formed with the goal of providing advertisers with the benefits of delivering broadcast quality television commercials over the Internet. NetZero has the infrastructure and user base to leverage our technology and help us to achieve that goal.''
''We anticipate that the first application of the AimTV technology will be television-quality commercials displayed during the log-on process,'' added Goldston. ''NetZero will be offering this exciting new technology to advertisers under the name 'GroundZero(TM).' GroundZero provides an opportunity to reach users during the idle time it takes for modems to dial and establish an Internet connection.''
According to Goldston, NetZero plans to provide advertisers with the ability to display television commercials through GroundZero in the first half of next year.
About AimTV
AimTV is a privately-held company in San Francisco and has been funded to date by angel investors that include prominent figures in the entertainment, advertising and consumer products industries. AimTV's chairman and chief executive officer Brian Woods is the former executive vice president and chief marketing officer of Blockbuster Entertainment Worldwide.
About NetZero
NetZero is pioneering a new Internet service model that provides consumers with free access to the Internet while offering online advertisers an effective way to target those users. NetZero offers consumers free and unlimited nationwide Internet access, free email and navigational tools through The ZeroPort(TM). The ZeroPort is a persistent on-screen device which serves as a navigational tool providing users with instant ''speed dial'' to key sites on the Internet for functions such as shopping, auction, e-commerce and services. Users can even access essential features such as search, e-mail and browse, all without having to launch their browser. Customized information such as stocks, news and sports can also be delivered directly to the desktop through The ZeroPort. For advertisers, NetZero utilizes its proprietary zCast technology to provide unique one-to-one targeting capabilities and the ability to track users throughout their online experience. Between the October 1998 launch of NetZero and September 30, 1999, approximately two million users registered for its free Internet access service. NetZero offers its services in more than 1,600 cities across the United States. More information about the company is available on our Web site at www.netzero.net.
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