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Technology Stocks : Net2Phone Inc-(NTOP) -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (436)	8/9/1999 7:03:00 PM
From: Rusty Johnson	Respond to of 1556

NBC Will Link, Market Net2Phone With Placement on Its Web Sites Associated Press NEW YORK -- NBC plans to prominently link and market Internet telephone services from Net2Phone Inc. on the network's top Web sites. On the news, shares of Net2Phone surged $3.875, or 23%, to close at $20.375 on the Nasdaq Stock Market Monday. Net2Phone's personal computer-to-phone service will be prominently positioned on the Snap.com Web site (snap.com), where users can search yellow and white-page phone listings and click to instantly dial any number, according to a news release. The agreement was confirmed by Snap.com officials on Sunday evening. A formal announcement was made Monday. Net2Phone would also have a link on the NBC.com (NBC.com) and NBC Interactive Neighborhood sites (www.NBC-IN.com). In return, NBC, the broadcasting unit of General Electric, and Snap.com would acquire an equity stake in Net2Phone, with NBC gaining the right to nominate a director to Net2Phone's board. Financial terms of the deal were not disclosed. Net2Phone, based in Hackensack, N.J., successfully raised $81 million in an initial public offering of stock July 29. After an initial surge, the stock has drifted lower, closing Friday at $16.50, $1.50 above the offering price. Using the service to place long-distance calls requires the Net2Phone caller to have a computer with speakers and a microphone and the company's free software available at its Web site. Net2Phone charges just under five cents a minute for domestic calls anywhere in the U.S. Calls from the U.S. to Argentina or Japan are 42 cents and 17 cents a minute, respectively. Snap.com, a joint venture between NBC and online media company CNET Inc., is slated to be merged with NBC.com and other properties later this year to form NBC Internet. "This agreement with Net2Phone will powerfully bridge NBC's Internet properties with the most ubiquitous consumer technology in the history of the world the telephone," said Martin J. Yudkovitz, president of NBC Interactive Media.