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News, features and resources for media and publishing professionals. Wednesday, February 7, 2001 Blogs | Subscribe | Interviews | Events | Films | Book Blog Media Cynic | Forum | Advertising | Classifieds | Jobs iVillage and Women.com to Merge iVillage Inc., operator of the iVillage Network, which includes iVillage.com, Lamaze Publishing and the Newborn Channel, announced that it has signed a definitive agreement to acquire all outstanding shares of Women.com Networks, Inc., creating one combined online destination for women. Doug McCormick, who will serve as Chairman and Chief Executive Officer of the combined entity, said ``By combining the two top players in the online women's space, we are creating the most comprehensive destination to meet the everyday needs of women online. Sponsors benefit by having one-stop access to one of the most highly targeted and desirable demographics on the Web. Additionally, through this agreement, we are partnering with Hearst, the number one women's media company. Hearst's $40 million commitment overall to the venture is a clear affirmation of their belief in iVillage and the viability of the online women's space.'' The Hearst Corporation has also committed to purchase from iVillage a range of approximately $15 - $21 million in production and advertising services over a three-year period. Marleen McDaniel, Chairman and Chief Executive Officer of Women.com will assist the new company through its transition period. Three designees of The Hearst Corporation will be appointed to the iVillage board. Other management structure decisions will be determined at a later date. The transaction is expected to close in the second quarter of 2001. Hearst Communications, Inc.owns approximately 46% of Women.com. Related Links: · iVillage.com · Women.com · Hearst · Web Resources for Women Click here to return to the homepage of The Write NewsTM Click here to subscribe to our free weekly email newsletter. www.writenews.com Copyright © 1997-2007 by Writers Write, Inc. All Rights Reserved.