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To: digger who wrote (7017)	4/12/1999 10:52:00 AM
From: Thomas Kirwin	Respond to of 17679

CBS takes stake in two Net firms By Sandeep Junnarkar Staff Writer, CNET News.com April 12, 1999, 6:35 a.m. PT Television broadcaster CBS continued its aggressive moves online with separate investments in information sites Hollywood.com and StoreRunner.com. CBS and Big Entertainment today announced that they have signed an agreement in principle for CBS to receive a 35 percent stake in Hollywood.com, an online movie service devoted to movie information and news. In exchange, Hollywood.com will receive $100 million of CBS promotion and content across the full range of CBS properties. Big Entertainment will own 65 percent of the joint venture. CBS will also have the option to increase its ownership by 5 percent for additional promotion or cash. In a separate deal, CBS will receive 50 percent equity of StoreRunner.com, an interactive online shopping comparison service, in exchange for about $100 million of promotion and branding support on all CBS media over a six-year time period. The transaction is subject to completion of a definitive agreement. news.com