settles into iVillage
NBC announced it will take an equity stake in iVillage Inc., a Web publishing company which has developed an online network of news, information and communities for women.
Under the terms of the agreement, iVillage will receive on-air promotion from NBC and online distribution on NBC.com and Snap.com, the Internet portal service from NBC and CNET Inc. (CNWK).
NBC, a subsidiary of General Electric Co. (GE), will also acquire a seat on the iVillage board. Additionally, iVillage and Snap will launch three new parenting, family and health centers on Snap.com, the companies said.
"Despite what began as a dominant male-skewed medium, women now represent the fastest growing demographic on the Internet," noted Tom Rogers, NBC executive vice-president. "It furthers our goal in making Snap the strongest Internet portal by allying with top Internet services and their audiences."
The companies offered no information about financial terms of the deal.
By Frank Barnako, CBS MarketWatch