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Technology Stocks : RCN Corp. (RCNC) - Voice-Video-Internet -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (615)	6/27/2000 4:51:00 PM
From: Sarkie	Read Replies (1) \| Respond to of 720

RCN Corp's JuniorNet Confirms Pact With PBS Stations ================================================================ BOSTON -(Dow Jones)- RCN Corp.'s (RCNC) majority-owned JuniorNet Corp. unit confirmed it will give owners of 20 member stations of the Public Broadcasting Service an equity stake in the firm in exchange for promotion, distribution and outreach services. Financial terms weren't disclosed. In a press release Tuesday, JuniorNet said Maryland Public Broadcasting Foundation Inc., Nebraskans for Public Television Inc. and South Carolina Educational Communications Inc. received equity stakes as well as a co-branding opportunity. The Wall Street Journal reported Tuesday that the deal is believed to the first time PBS stations have traded beneficial air time for stock in a public company. The Journal also said insiders have suggested that JuniorNet plans an initial public offering in the future. In its press release, JuniorNet said the stations will promote JuniorNet Online Service to schools and homes and receive warrants for JuniorNet stock in relation to the number of households in their coverage area, as well as for a percentage of the home subscription revenue they generate within their market. The online service, which costs $9.95 a month, features online games, entertainment intended to be educational and stories culled from other media, including "Highlights for Children," "Ranger Rick," and "Sports Illustrated for Kids." According to The Journal, PBS gets about one-third of its $1.5 billion in annual revenue from federal and state governments, another 23% from member donations and the rest from corporate sponsorships. JuniorNet didn't speculate about how much revenue the deal might generate for PBS or the member organizations that have already signed on. JuniorNet also confirmed it will offer PBS stations a television series produced by its Lancit Media Entertainment Ltd. unit. The series, as yet untitled, will be designed to introduce children to the Internet, the company said. The Journal reported that RCN Corp. paid JuniorNet $22 million for a majority stake last year and transferred Lancit Media to JuniorNet as part of the deal. Euclid Partners, Boston Capital Ventures and New World Ventures also put up $23 million for a minority stake. JuniorNet Web site: juniornet.com. -Jason Overdorf; Dow Jones Newswires; 201-938-5400 (This story was originally published by Dow Jones Newswires) Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved ================================================================