Old release revisited What did Paul Allen see in ZD that he wanted for his cable empire. Alook at the restructuring the highering of a new media man to run the transition along with the tremendous assets the company controls that will have more value as e media. I suspect as more of the publishing business is reorganized around the net as a source rather than primary print that the diversity of holdings will make for a lot of technical content for someone from the planet Vulcan
It is in times like these that no one seems to want to own a stock ZD despite a massive infusion of cash from spinoff ipo + 80+% stock in ZDZ that all it will take is a little more e media branding for the investment community what Paul Allen and Softbank see....the future.
Vulcan Ventures to Invest $50 Million in Ziff-Davis
Additional $54 Million ZDTV Investment By Vulcan Closes
New York, New York, February 5, 1999--Ziff-Davis Inc. (NYSE: ZD) today
announced that Vulcan Ventures Inc., the investment organization of Paul
G. Allen, will make an investment of $50 million, for approximately 3
million unregistered shares of common stock, in Ziff-Davis. At the same
time, Ziff-Davis has invited William Savoy, President, Vulcan Ventures
Inc., to become a member of its Board of Directors.
Also today, Ziff-Davis announced the closing of Vulcan's $54 million
investment for a one-third interest in ZDTV, which was previously
announced on November 17, 1998.
"We believe that Ziff-Davis is uniquely positioned in the high tech
marketplace," said William Savoy. "As a media company focusing on the
Internet and related technology, all of Ziff-Davis' brands embrace
Vulcan's strategy of a 'Wired World'. Through this investment, we are
deepening our existing relationship with Ziff-Davis and we expect the
Company to develop exciting new media brands and build on their
successful existing brands, such as ZDNet and ZDTV, over the long term."
"We are delighted that Vulcan is excited about the future of
Ziff-Davis," said Eric Hippeau, Chairman and Chief Executive Officer,
Ziff-Davis Inc. "We look forward to welcoming Bill to our Board of
Directors and we anticipate his strategic insight further enhancing
Ziff-Davis' leadership position in the Internet economy."
About Vulcan Ventures
Vulcan Ventures Inc. of Bellevue, Wash. was founded by Paul G. Allen in
1986 to research and implement his investments. Allen's investments
through Vulcan Ventures are long-term, as his goals enable him to take
above-average risks and a long-term view. Through Vulcan Ventures, Allen
invests in companies that offer products, services or technologies that
fit his "Wired World" strategy, and can contribute to or benefit from
the technology and strategy of other Paul Allen companies. William D.
Savoy is president of Vulcan Ventures and represents Allen in his
professional and personal financial transactions as well as managing the
Vulcan analysts, who investigate and secure investment opportunities.
Allen remains chairman of Vulcan.
About Ziff-Davis Inc.
Ziff-Davis is a leading integrated media and marketing company focused
on Internet-related technologies, with principal platforms in print
publishing, trade shows and conferences, online content, television,
market research and education. The Company provides global marketing and
media strategies for reaching key technology decision-makers worldwide.
This release contains forward-looking statements that are subject to
risks and uncertainties. Although Ziff-Davis Inc. believes that the
expectations reflected in its forward-looking statements are reasonable,
actual results could differ materially from those expectations.
Important cautionary statements and risk factors that would affect
actual results are discussed in materials filed by Ziff-Davis Inc. with
the Securities and Exchange Commission, including under the caption
"Risk Factors" in the preliminary Prospectus contained in the
Registration Statement on Form S-1 filed on December 22, 1998.
Vulcan Ventures to Invest $50 Million in Ziff-Davis
Additional $54 Million ZDTV Investment By Vulcan Closes
New York, New York, February 5, 1999--Ziff-Davis Inc. (NYSE: ZD) today
announced that Vulcan Ventures Inc., the investment organization of Paul
G. Allen, will make an investment of $50 million, for approximately 3
million unregistered shares of common stock, in Ziff-Davis. At the same
time, Ziff-Davis has invited William Savoy, President, Vulcan Ventures
Inc., to become a member of its Board of Directors.
Also today, Ziff-Davis announced the closing of Vulcan's $54 million
investment for a one-third interest in ZDTV, which was previously
announced on November 17, 1998.
"We believe that Ziff-Davis is uniquely positioned in the high tech
marketplace," said William Savoy. "As a media company focusing on the
Internet and related technology, all of Ziff-Davis' brands embrace
Vulcan's strategy of a 'Wired World'. Through this investment, we are
deepening our existing relationship with Ziff-Davis and we expect the
Company to develop exciting new media brands and build on their
successful existing brands, such as ZDNet and ZDTV, over the long term."
"We are delighted that Vulcan is excited about the future of
Ziff-Davis," said Eric Hippeau, Chairman and Chief Executive Officer,
Ziff-Davis Inc. "We look forward to welcoming Bill to our Board of
Directors and we anticipate his strategic insight further enhancing
Ziff-Davis' leadership position in the Internet economy."
About Vulcan Ventures
Vulcan Ventures Inc. of Bellevue, Wash. was founded by Paul G. Allen in
1986 to research and implement his investments. Allen's investments
through Vulcan Ventures are long-term, as his goals enable him to take
above-average risks and a long-term view. Through Vulcan Ventures, Allen
invests in companies that offer products, services or technologies that
fit his "Wired World" strategy, and can contribute to or benefit from
the technology and strategy of other Paul Allen companies. William D.
Savoy is president of Vulcan Ventures and represents Allen in his
professional and personal financial transactions as well as managing the
Vulcan analysts, who investigate and secure investment opportunities.
Allen remains chairman of Vulcan.
About Ziff-Davis Inc.
Ziff-Davis is a leading integrated media and marketing company focused
on Internet-related technologies, with principal platforms in print
publishing, trade shows and conferences, online content, television,
market research and education. The Company provides global marketing and
media strategies for reaching key technology decision-makers worldwide. |
