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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (14199)	2/23/1999 9:29:00 AM
From: SFJayhawk	Respond to of 29382

TSCN and CNBC announce Web Site Tuesday February 23, 8:05 am Eastern Time Company Press Release SOURCE: Telescan Inc. Telescan Reaches Strategic Alliance with NBC for CNBC.com Company to Provide Internet Technology, Investment Analytics for CNBC.com Personal Finance Website HOUSTON, Feb. 23 /PRNewswire/ -- Telescan Inc. (Nasdaq: TSCN - news) today announced that the National Broadcasting Company (NBC) is licensing Telescan's proprietary Internet and online financial services technology for CNBC.com, a comprehensive website for personal finance. The strategic agreement comes less than six weeks after Telescan announced that NBC and GE Capital's Equity Group, both subsidiaries of General Electric Co., purchased 9.9% of Telescan in a private placement stock purchase. Under the agreement, Telescan will be responsible for developing customized investment analytics, providing financial data, data retrieval and hosting services. The site will operate under CNBC's editorial control and include CNBC's proprietary global market data and analysis. NBC's Interactive unit will build and maintain the site. Specific details of the site and its launch were not disclosed. NBC President Bob Wright said, ''Now more than ever, there is a huge demand for the most up-to-date information on the marketplace. Television viewers have come to trust CNBC as their must-see market information source; now, we're going to create a virtual Wall Street through CNBC.com to deliver the fastest, most complete stream of personal finance information available anywhere.'' David Brown, Telescan's chairman and chief executive officer, said, ''Marrying Telescan's proprietary Internet technology and investment analytics with CNBC's vast investor viewership will make CNBC.com a powerful Internet site, giving individual investors instant access to all the tools and information they need to make intelligent investment decisions. We are excited to partner with NBC, which has been at the forefront of integrating Internet, television and cable technologies to give its audiences information when and how they most want to receive it.'' Telescan revenue will come from cost reimbursement, fixed monthly license fees, and a percentage of revenue from the site. Telescan expects the partnership will be a significant contributor to its revenue growth. CNBC is the world leader in live business news and is available in more than 160 million homes worldwide, including 68 million in the United States. In the U.S., CNBC offers business news programming during the day as a joint service of NBC and Dow Jones. In Prime Time, the network offers broad-based news, talk and entertainment programming. Weekends on the network feature entertainment and talk programming. NBC is a global media company with broadly diverse holdings. NBC owns and operates the NBC Television Network as well as 13 television stations. In the United States, NBC owns CNBC, operates MSNBC in partnership with Microsoft, and maintains equity interests in Arts & Entertainment, The History Channel, and Rainbow Programming Holdings, a leading media company with a wide array of entertainment and sports cable channels. Internationally, NBC owns and operates CNBC, a service of NBC and Dow Jones in partnership with Dow Jones & Co. in Europe and Asia. Together with National Geographic Television, NBC owns National Geographic Channels Worldwide (NGCW). In partnership with BskyB, NGCW operates the National Geographic Channel in Europe. Its sister programming service, National Geographic Channel Asia, is jointly owned by NBC and National Geographic. NBC also operates NBC Europe in partnership with Deutsche Fernsehnachrichten Agentur. Based in Houston, Telescan is an industry leader in developing Internet services, innovative solutions for online technology and data retrieval tools. The company develops and operates Internet sites and major online networks serving the financial, publishing, entertainment and technology-transfer industries. Its Wall Street City® supersite (www.wallstreetcity.com) provides the most comprehensive suite of search tools, technical analysis and financial data on the Internet. Telescan provides private-label versions of its proprietary Internet technology to many leading financial institutions including American Express, Fidelity Investments and Standard & Poor's.