Sony Music Entertainment buys InfoBeat rights

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Sony Music Entertainment expands its online reach Jan. 19 when it purchases the brand and consumer business of Denver-based InfoBeat, a line of free e-mail newsletters that reach 2 million unique subscribers. InfoBeat, which also has a business-to-business division, is changing its name to Exactis.com and will focus on managing and delivering e-mail publications for businesses. Sony is also signing a multiyear deal with Exactis.com to distribute and manage InfoBeat e-mail publications. Terms were not disclosed. "We felt the increasing pressure of being in two businesses," said InfoBeat Chairman John Funk, adding that to succeed among consumers, it needed to spend heavily on an ad campaign or find a media partner like Sony. Exactis.com has more than 30 customers including Amazon.com, American Express Co. and Charles Schwab & Co.

Copyright January 1999, Crain Communications Inc.

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