NetZero, a provider of free Internet access and e-mail, signed an agreement to acquire AimTV in a stock for stock transaction. AimTV has developed a patent-pending technology designed to enable advertisers to run broadcast-quality TV commercials over narrowband Internet connections. According to the agreement, NetZero will acquire AimTV for approximately 1 million shares of NetZero stock. The closing of the acquisition, which is subject to various closing conditions, is expected prior to the end of the year. The first application of AimTV will be TV-quality commercials displayed during the NetZero log-on process, said Mark Goldston, NetZero chairman-CEO.
Copyright November 1999, Crain Communications Inc.