StarMedia Network Announces Creation of New Division: StarMedia Broadband
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.
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 |
