Polo Ralph Lauren formed a joint venture with NBC and its affiliated companies ValueVision International and NBC Internet to create content for online, broadcast, cable and print media. The new company, Ralph Lauren Media, will be 50% owned by Polo Ralph Lauren, 25% by NBC, 12.5% by ValueVision, 10% by NBCi and 2.5% by CNBC.com. NBC will provide $110 million in TV and online ads on NBC and CNBC.com media in exchange for its stake, NBCi will provide $40 million in online distribution and promotion, and ValueVision will pay $50 million in cash. The venture will launch its first project in the fourth quarter, a Web site called Polo.com. The site will include an online community, content and e-commerce. The company will be based in New York; Jeffrey D. Morgan, formerly worldwide publisher of Men's Health
, was named president-CEO, and David Lauren, former editor in chief and president of Swing
, was named creative director and VP-marketing.
Copyright February 2000, Crain Communications Inc.