Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.


GE to buy rest of NBCi

Published on .

New York--General Electric Co. said Monday that it's buying the portion of money-losing Internet portal NBC Internet Inc. that it does not already own for $85 million. GE said it would pay $2.19 each for shares of NBCi, a premium of 46% over the $1.50 close Friday, when shares were up 3 cents. GE already owned 38% of the portal's shares. GE said it would integrate NBCi into NBC. NBCi was created in 1999 when NBC merged several of its key Internet assets with Xoom.com and Snap.com. However, the portal started to fall on hard times last year, when it laid off 170 employees and its stock started to languish. GE's move follows the decision in January by media rival Walt Disney Co. to fold its Web portal back into the company.
Most Popular
In this article: