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Disney completes Infoseek deal

Published on .

Burbank, Calif.--Walt Disney Co., Burbank, Calif., announced Monday it has agreed to buy the remaining shares of the portal site Infoseek Corp., Sunnyvale, Calif., it doesn't already own. Disney bought a 43% stake in Infoseek last year and pooled its search engine and portal resources into the Go Network, a network of sites including ABCNews.com, Disney Online and ESPN.com. Disney said it plans to merge Infoseek with its Buena Vista Internet Group into a Web business called Go.com, of which Disney will own 72%. The transaction is expected to close by year's end. Harry Motro, president-CEO of Infoseek, will continue in his role until the deal is closed, after which he has elected to leave the company to pursue other interests.
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