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Infoseek agrees to buy WebChat Broadcasting

Published on .

In a race to keep up with the leading search engine sites, Infoseek Corp. has agreed to purchase WebChat Broadcasting System. WebChat has 2.7 million members in its online community and offers chat, homesteading, messaging and user profiles. The personalized services allow Infoseek to offer more targeted advertising.

Under the terms of the agreement, Infoseek will pay approximately $6.7 million for WebChat, or approximately 350,000 shares of Infoseek stock, based on the company's recent share price.

Copyright April 1998, Crain Communications Inc.

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