STRM *NEWS*
(BSNS WIRE) StarMedia Network Announces Creation of New Division: StarMe
StarMedia Network Announces Creation of New Division: StarMedia Broadband
Business Editors and High Tech Writers
SAN FRANCISCO--(BUSINESS WIRE)--Sept. 15, 1999--
Acquisition of San Francisco-based Webcast Solutions, Inc. Marks
Keystone for First Extensive Broadband Services Initiative in Spanish
and Portuguese
StarMedia Network, Inc. (NASDAQ:STRM) (www.starmedia.com), the
leading global Internet media company for Spanish- and
Portuguese-speaking audiences, announced today the acquisition of
Webcast Solutions, Inc., a leading international streaming media
company. The acquisition is the keystone for StarMedia Broadband,
StarMedia Network's new broadband services arm. StarMedia Broadband
will deliver Spanish- and Portuguese-language users premium streaming
media services and programming, including audio, video and interactive
multimedia via the Internet.
StarMedia Broadband will integrate Webcast Solutions' streaming
technologies, international production capabilities, business and
advertising services into StarMedia Network properties. The newly
formed entity will be responsible for the deployment of a premium
platform for the delivery of high quality streaming audio and video
services, including webcast events such as sporting events, concert
tours, original programming, interactive chats and consumer
promotions.
"The creation of StarMedia Broadband represents the next wave in
offerings to our worldwide users, providing them with a richer
multimedia Internet experience," stated Fernando Espuelas, Chairman
and CEO of StarMedia Network. "We are very excited to welcome Webcast
Solutions into the StarMedia family. Their international expertise and
proven track record will help us to further strengthen our position as
an integral part of the communication and entertainment needs of the
Spanish- and Portuguese-language Internet user."
StarMedia Network is fully committed to deliver superior
broadband products and user experience, and plans to establish local
in-house studios in certain of StarMedia's key markets for the
production of original programming.
The synergy between StarMedia Network and Webcast Solutions dates
back to collaborations in consumer promotions projects for StarMedia
advertising clients such as Anheuser-Busch and Pepsi-Cola. These
'streaming' consumer promotions have provided clients with an
innovative, valuable advertising platform to reach target audiences.
StarMedia Broadband will continue to explore opportunities to expand
the targeted reach of advertising clients by offering them a full
range of marketing options.
"At Webcast Solutions, we enjoy the challenge of delivering
interactive content to a wide range of users throughout the world. As
a part of StarMedia Broadband, we will continue to use the power of
cutting-edge technology to build the StarMedia Network properties and
bring the Spanish- and Portuguese-language communities closer
together," said Cory Smith, CEO, Webcast Solutions, Inc.
Webcasting is a form of communication that allows streaming rich
media, including audio, video and web-based multimedia, viewed over
the Internet. Webcasting combines the latest streaming media
technologies with expert on-location media production, website design,
content hosting, media management and online promotion for use in
dynamic, media rich websites utilized by corporations, organizations,
portal sites, broadband distributors and other users of compelling
content.
StarMedia Broadband is an important initiative in StarMedia's
strategy to enhance the entertainment and interactive experience of
Spanish and Portuguese speakers by enabling the fast and efficient
delivery of rich media programming through the Internet and other
high-speed distribution platforms.
About StarMedia Network
StarMedia Network is the leading Internet media company targeting
Latin America and other Spanish- and Portuguese-speaking markets
worldwide. The company is committed to providing Spanish and
Portuguese speakers with a complete selection of services and products
that take full advantage of Internet technologies. StarMedia Network
operates StarMedia (www.starmedia.com), the leading global online
community for Spanish and Portuguese speakers; StarMedia
Acceso/Acesso, a premium Internet access service in Latin America;
LatinRed (www.latinred.com), one of the largest Spanish language
online communities; OpenChile (www.openchile.cl), a local Chilean
portal; Zeek! (www.zeek.com.br) and Cade? (www.cade.com.br), two of
the leading online directories in Brazil. StarMedia Network provides
advertisers and merchants targeted access to Spanish- and
Portuguese-speaking Internet users. Some of StarMedia Network's
strategic relationships include Netscape Communications, Real
Networks, CDNOW, Reuters, eBay, National Broadcasting Company, Hearst
Communications, and Fininvest. Founded in 1996, the company employs
over 450 people with operations in Argentina, Brazil, Chile, Colombia,
Mexico, Puerto Rico, Spain, Uruguay, Venezuela, and major U.S. cities.
About WebCast Solutions
Webcast Solutions, Inc. is a leader in international production
and distribution of streaming media. From locations throughout the
world, Webcast Solutions' expert production crews capture, integrate
and serve audio, video and custom media elements on the Internet.
Webcast Solutions has worked with an impressive roster of clients that
includes Cisco Systems, Hewlett-Packard, Sun Microsystems, SOFTBANK,
Global Village, Budweiser, Bell Atlantic Jazz Festival Online, and
Pepsi-Cola to develop initiatives in converging media.
This press release contains statements of a forward-looking
nature relating to future events or future financial results of
StarMedia Network, Inc. Investors are cautioned that such statements
are only predictions and that actual events or results may differ
materially. In calculating such statements, investors should
specifically consider various factors which could cause actual events
or results to differ materially from those indicated from such
forward-looking statements, including the matters set forth in
StarMedia Network's reports and documents filed from time to time with
the Securities and Exchange Commission
StarMedia, StarMedia Network and StarMedia's logos, product and
service names are registered trademarks of StarMedia Network, Inc.
--30--ac/sf*
CONTACT: StarMedia Network, Inc.
Roberto Ramos, 212/791-5167 (Press)
Rramos@starmedia.net
Gina M. Sorice, 212/520-6336 (Investor)
Gina@starmedia.net
or
Alexander Ogilvy PR Worldwide
Rebecca Bassin, 415/923-1660
rbassin@alexanderogilvy.com
or
Webcast Solutions, Inc.
Martina Johnson-Kent, 415/284-9999 x 109
martina@webcastsolutions.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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