Geocast Network Systems
Closes Milestone Agreements
With THOMSON multimedia,
Liberty Media, Electronic Arts
Alliance Advances Company's Business Strategy
MENLO PARK, Calif. — Dec. 7, 1999 — Geocast Network Systems, Inc. today
announced deals with THOMSON multimedia (NYSE: TMS), Liberty Media
Corp. (NYSE: LMG.A and LMG.B) and Electronic Arts™ (NASDAQ:
ERTS), all of which include significant investments in the company.
In addition,
THOMSON multimedia, the nation's number one consumer electronics
manufacturer and marketer, will develop, manufacture and market an
RCA-brand Geocast receiver. Geocast will also benefit from content
relationships with Liberty Media and entertainment-software leader Electronic
Arts.
Geocast is setting the framework for a comprehensive new service and
network that will deliver customized, rich-media information and entertainment
programming to the PC desktop via digital TV broadcast signals. By
combining the efficiency and immediacy of broadcast with the customization
and control of the PC, Geocast will give consumers personalized content with
impressive full-motion video, CD-quality audio and instant software
downloads. Geocast is backed by funding from Mayfield Fund, Kleiner
Perkins Caufield & Byers and Institutional Venture Partners.
"These agreements reinforce the three pillars on which the Geocast service
and network are built: rich-media content and entertainment programming;
digital broadcast bandwidth; and Geocast receiver distribution. The
agreements announced today and those previously closed with A.H. Belo
Corp. and Hearst-Argyle Television give Geocast a solid foundation in each of
these areas," said H. Joseph Horowitz, chairman and CEO of Geocast.
Geocast recently announced alliances with major television station groups
Hearst-Argyle Television, Inc. (NYSE: HTV) and A.H. Belo Corp. (NYSE:
BLC) to use digital television broadcast signals to deliver Geocast's
programming service. The agreements extended Geocast's potential market
reach to more than 30 million homes or nearly a third of all U.S. households.
With the Geocast service, PC users can create personal preferences that
deliver on-demand traffic and weather updates, sports highlights, stock
quotes, entertainment or breaking news. They will also have access to
premium news and entertainment programming developed and broadcast by
local television stations for Geocast users. Geocast allows users to decide
which segments of news and entertainment information they want to view at
their convenience.
James E. Meyer, senior executive vice president, Thomson multimedia;
Robert R. Bennett, president and chief executive officer of Liberty Media
Corp.; and Don Mattrick, president of Worldwide Studios for Electronic
Arts, join the Geocast board. Board members also include H. Joseph
Horowitz, chairman and CEO of Geocast; Kevin Fong of Mayfield Fund;
William Randolph Hearst III of Kleiner Perkins Caufield & Byers; Bob
Marbut, chairman and co-chief executive officer of Hearst-Argyle Television,
Inc.; Robert W. Decherd, chairman, president and chief executive officer of
A. H. Belo Corp.; and Tsutomu Shimomura, a Geocast founder.
About Geocast Network Systems, Inc.
With headquarters in Menlo Park, Calif., Geocast Network Systems is
building a new network that leverages digital broadcast infrastructure to
deliver rich-media information and programming to the PC desktop. Geocast
is backed by the premier venture firms of Mayfield Fund, Kleiner Perkins
Caufield & Byers, and Institutional Venture Partners. In addition, Geocast has
developed agreements with leaders in the broadcast, programming and
consumer electronics industries. These partnerships include Hearst-Argyle
Television, Inc., A. H. Belo Corp., Liberty Media Group, Electronic Arts and
THOMSON multimedia. For more information, visit the Geocast website
athttp://www.geocast.com.
About THOMSON multimedia
With sales over $6 billion in 1998 and 48,000 employees in over 30
countries, THOMSON multimedia (NYSE: TMS) is the fourth largest global
supplier of consumer electronics products. The group has four main activities:
Displays and Components, Consumer Products, New Media Services,
Patents and Licensing. Within its activities THOMSON multimedia develops,
manufactures and sells television displays and components, consumer
products such as televisions, VCRs, camcorders, audio and communications
products, digital decoders, DVD players and professional video equipment.
Thomson Multimedia is the parent company of the U.S.-based Thomson
Consumer Electronics, Inc. Visit THOMSON multimedia on the Web:
thomson-multimedia.com.
About Liberty Media
Liberty Media holds interests in a broad range of video programming,
communications, technology and internet businesses in the United States,
Europe, South America and Asia. Liberty's interest in video programming
includes numerous globally branded entertainment networks such as
Discovery Channel, TV Guide, QVC, STARZ, and Encore. Liberty's assets
also include interests in international video distribution businesses; international
telephony and domestic wireless telephony; plant and equipment
manufacturer; and other businesses related to broadband services.
About Electronic Arts
Electronic Arts, headquartered in Redwood City, Calif., is the world's leading
interactive entertainment software company. Founded in 1982, Electronic Arts
posted revenues of more than $1.2 billion for fiscal 1999. The company
develops, publishes and distributes software worldwide for personal
computers and video game systems such as PlayStation and the Nintendo 64.
Electronic Arts markets its products under eight brand names: Electronic Arts,
EA SPORTS, Maxis, ORIGIN, Bullfrog Productions, Westwood Studios
and Jane's Combat Simulations. EA has international subsidiaries or
distribution in more than 75 countries worldwide. The company has 13 major
development operations located throughout the world based in Redwood
City, Carlsbad, Irvine and Walnut Creek, Calif.; Baltimore, Md.; Austin,
Texas; Maitland, Fla.; Seattle; Las Vegas; Vancouver, British Columbia; the
Gold Coast, Australia; the United Kingdom and Japan. More information
about EA's products and full text press releases can be found on the Internet
at ea.com. |
