C-Cube Message Board - Msg: 10913388

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Technology Stocks : C-Cube

CUBE 36.91

+1.7%

Nov 25 3:59 PM EST

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To: John Rieman who wrote (43827)	8/11/1999 8:10:00 PM
From: J Fieb	Read Replies (1) of 50808

John R., Nice find. Lots of folks for ONE headend. Hoping for the best....... MediaOne To Buy Stake In Netgateway NEW YORK (Reuters) - Electronic commerce service provider Netgateway Inc said Wednesday it agreed to sell some of its shares to MediaOne and to launch its online services in the company's cable TV markets. Under the deal, MediaOne, a unit of MediaOne Group, will immediately buy an undisclosed stake in Netgateway, a company whose total equity float is worth just over $90 million. MediaOne also has rights to buy more Netgateway shares in the future. Netgateway will provide local electronic commerce services, which will prominently feature local businesses and offer additional Internet services, in Media One's cable television markets. MediaOne will provide advertising for Netgateway on its cable television systems, which currently reach more than 5 million American households, under the terms of the agreement. Both Netgateway and MediaOne will work together to sell electronic storefronts and other services to local businesses. Netgateway said it expects to launch the first of the local shopping sites in the fourth quarter of 1999. It expects to have all of the sites covered by the deal up and running within the next 18 months. Shares of MediaOne Group were up 1/16 to $67-7/8 in afternoon trade on the New York Stock Exchange, while shares of Netgateway were unchanged at $9-1/4 on the Nasdaq's over-the-counter bulletin board. Based on Netgateway's Wednesday share price, the company's market capitalization totals $90.65 million.

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