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NBCI, ASIACONTENT.COM DISSOLVE JOINT VENTURE.
(Full text of a statement. Contact details below.)
HONG KONG, Dec. 30 PRNewswire-AsiaNet - NBC Internet, Inc. (Nasdaq: NBCI) and Asiacontent.com (Nasdaq: IASIA), a leading Asian Internet company providing Internet solutions and advertising services, today announced the dissolution of their joint venture and related agreements to jointly establish local Asian versions of NBC Internet's (NBCi's) various community portals.
This move is in line with NBCi's plans to focus on the growth of its operations in the U.S. consumer Internet market and with Asiacontent.com's strategy to capitalize on its Internet Solutions business by leveraging its multi-lingual, multi-market content management platform.
The streamlining will allow Asiacontent.com to continue to reduce costs and accelerate the development of its business towards long-term profitability. About NBC Internet, Inc. NBCi (Nasdaq: NBCI) is a leading Internet company that helps consumers access Internet resources, leveraging user data to broker information, commercial, and entertainment transactions between consumers and marketing partners.
NBCi's flagship consumer Internet portal, NBCi.com, provides Internet search and directory, information, community, personal file storage, e-commerce and entertainment services for both narrowband and broadband users.
NBCi was launched in November 1999 through the combination of NBC and CNET's Snap.com, Xoom.com, NBC.com, NBC Interactive Neighborhood, VideoSeeker, and a 10 percent equity stake in CNBC.com.
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