It's over now...
NBC says will buy NBCi for for $138 million
NEW YORK, April 9 (Reuters) - General Electric's <GE.N> NBC
on Monday said it would buy NBCi <NBCI.O> at a 46 percent
premium to NBCi's Friday closing price, as the beleaguered
online media company became the latest casualty of the Internet
media downturn.
Media giant NBC, which said it already held about 38.6
percent of NBCi's shares, will be paying $2.19 per share, or
about $138 million for NBCi, based on shares outstanding as of
Dec. 31, 2000.
NBCi, whose online content site has been hurt by the
softness in the Internet advertising market, slashed its 2001
earnings forecasts in February.
NBCi's shares closed at $1.50 on the Nasdaq on Friday, at
the bottom of its 52-week range of $38.56 and $0.96.
859-1711))
REUTERS
Rtr 08:29 04-09-01 |
