This is the DT---SEEK MU will turn into agreement by june 1 98
This is a very big deal for seek,Read very carefully and stay long.
Seek will reap tremendous revenue from these Firms,In 98 alone.
riday March 20, 6:30 am Eastern Time
Company Press Release
SOURCE: Infoseek Corporation
Infoseek Partners With Leading Players in German Online Market
Infoseek, Deutsche Telekom, Axel Springer and Holtzbrinck Form Joint Venture To Offer
Ultimate Localized Online Service in Europe's Largest Internet Market
HANNOVER, Germany, March 20 /PRNewswire/ -- Infoseek Corporation (Nasdaq: SEEK - news) announced today the signing
of a memorandum of understanding to form a joint venture with Deutsche Telekom Online Service, Europe's largest Internet
access provider; Axel Springer Verlag, Germany's largest consumer media company; and Holtzbrinck, Germany's premier
publisher across all media, specializing in business news and information. The joint venture will result in the launch of an Infoseek
branded search, navigation and content service localized to serve the largest population of Internet users in Europe.
The four companies will join to produce an Internet site that draws on traffic links throughout the most visited sites in Germany,
including Deutsche Telekom's T-Online which reaches more than 2 million members as the fastest growing online service in
Germany.
''The German market is the keystone of our European strategy,'' said Infoseek's president and CEO Harry Motro. ''The
combination of local content from Axel Springer Verlag and Holtzbrinck and the distribution by Deutsche Telekom's T-Online,
gives Infoseek a great opportunity to bring the best search and directory technology, as well as the Internet business know-how, to
this market.''
Axel Springer Verlag's diverse media group includes numerous daily publications that reach 70 percent of the German population.
Content from its plethora of well-known consumer newspapers, magazines, and electronic media will be integrated into the new
site, giving Infoseek's German audience fresh, pertinent content on a daily basis. To complement Axel Springer Verlag's
consumer-oriented information, Holtzbrinck will provide business viewers, among others, with continuously updated coverage of
local and international business news.
According to Jupiter Communications, the online market in Germany has a projected growth rate of 38 percent, higher than the
European average of 29 percent, and has five million people currently accessing the Internet. Infoseek's international strategy is to
gain market share in leading and growing markets by partnering with premier media companies in individual markets.
About Deutsche Telekom
Deutsche Telekom, with a turnover of DM 67 billion in 1997, is Europe's largest telecommunications company and the third largest
carrier worldwide. Offering a complete range of products and services in Germany, Deutsche Telekom leads in mobile
communication services with almost 4 million customers, has a cable television network connected to 17.3 million homes, over 45
million telephone lines in service, about 8 million ISDN channels and more than 2 million customers of its online service, T-Online,
making Deutsche Telekom the largest Internet provider in Europe.
About Axel Springer Verlag
Axel Springer Verlag is a diverse media group with publications ranging from the serious newspaper Die Welt to the tabloid Bild,
the third largest newspaper in the world. It has scores of operations in newspapers, magazines, radio, TV, electronic information,
and books. Axel Springer Verlag has interests in four TV and seven radio stations in Germany and in interactive media, with a 10
percent stake in AOL's German venture. The company also has publications on the Internet and a regional online service.
About Holtzbrinck
Verlagsgruppe Georg von Holtzbrinck is a family owned publishing group with a turnover of DM 3.5 billion in 1997. It is actively
involved in newspapers such as DIE ZEIT, Handelsblatt and regional papers, trade and science publishing, radio and television; in
the US particularly known through Farrar, Straus & Giroux (trade), and Scientific American and Nature.
About Infoseek
Based in Sunnyvale, California, Infoseek Corporation is a connected media company and a leading Internet navigation service that
is designed to be everyone's favorite stop on the Internet. In addition to the Infoseek Internet service, Infoseek licenses its
Ultraseek(TM) Server search and navigation software to companies for their own intranet, extranet and Internet sites.
Infoseek is one of the most popular sites on the Internet because its search service is both easy to use and extremely powerful,
allowing both novice and professional users to find information on the Web quickly and easily.
By offering intelligent channels and one of the world's largest directories of Web sites organized by topic, Infoseek provides
consumers with a familiar and meaningful search experience in addition to accurate, high-quality search results. Infoseek has
commerce and/or content arrangements with entities including Auto-By-Tel, Borders Online, Inc. (NYSE: BGP - news), CMP
Media, Inc. (Nasdaq: CMPX - news), Datek Online, Inc., DLJ/Direct, Microsoft Corporation (Nasdaq: MSFT - news), PeopleLink
Inc., Bell Atlantic (BEL), UPS, Reuters and Talk City.
Infoseek's World Wide Web site and Internet navigation services can be accessed at infoseek.com. For more
information on Infoseek's software portfolio, visit software.infoseek.com.
NOTE: Infoseek, Ultraseek, and the Infoseek logo are trademarks of Infoseek Corporation, which may be registered in certain
jurisdictions. Other product and company names herein may be trademarks of their respective owners.
Risks Associated with Forward Looking Statements: This press release contains forward looking statements that involve risks and
uncertainties, including those relating to the Company's ability to finalize a definitive agreement to effect the joint venture. The
failure to do so would prevent Infoseek from realizing any of the potential benefits described herein. Actual results could differ
materially from the results indicated in such forward-looking statements and any trends evident from historical performance.
Moreover, there can be no assurance that Infoseek will benefit materially from the joint venture even if established.
SOURCE: Infoseek Corporation |
