NBC will invest an additional $25 million net equity in XOOM.com shares. The national network will also accelerate its $30 million cash investment in XOOM.com and the soon-to-be launched NBC Internet NBCi. The two moves bring NBC’s total investment to $55 million in cash equity at an average price of $57.30 per share.
Both investments increase NBC’s ownership prospects in NBCi, although having limited immediate effect. However, the cash purchase of XOOM.com stock is independent of the merger transactions needed to form NBCi.
Last May, NBC, CNET, and XOOM.com announced that NBC will merge some of its Internet assets with XOOM.com and Snap.com to form NBCi, which is touted as the first publicly traded Internet company integrated with a major broadcaster. NBCi will be NBC’s exclusive general Internet and e-commerce site.
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