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News, features and resources for media and publishing professionals. Friday, June 22, 2001 Blogs | Subscribe | Interviews | Events | Films | Book Blog Media Cynic | Forum | Advertising | Classifieds | Jobs Layoffs Follow iVillage and Women.com Merger iVillage Inc. announced that it has completed its acquisition of Women.com Networks, Inc. The company has also announced a round of heavy layoffs lowering the workforce from 350 to under 200. The share price for iVillage (IVIL) has also been trading at under $2 per share. On a more postive note, the company also announced an investment of about $20 million from Hearst Corporation. Hearst Communications has also committed to purchase from iVillage production and advertising services in a range of approximately $15 - $21 million over a three-year period. The combined websites also have solid traffic. A Media Metrix report found that the merged company had more than 12.1 million unique visitors for May 2001. ``Today we have created the most comprehensive online destination in the world for advertisers targeting women in their media mix,'' said Doug McCormick, Chairman and Chief Executive Officer of iVillage.com. ``The emotional connection that women have with our brand will now become even stronger with the addition of the Women.com sites. We are proud to offer our visitors and advertisers the very best on the Web.'' As part of the Hearst investment and advertising and production agreement several Hearst magazine websites will reside on on iVillage including Cosmopolitan, Country Living, Good Housekeeping, House Beautiful, Marie Claire, Redbook, Town & Country and Victoria. These magazines reach 69.5 million women each month. Doug McCormick will continue to serve as Chairman and Chief Executive Officer of iVillage Inc. Women.com's former Chief Executive Officer, Marleen McDaniel has left the company to pursue other interests, but will remain available for a transition period. Candice Carpenter stepped-down as Chairman of iVillage's Board in April 2001. Three representatives from Hearst Communications, who were prior members of the Board of Women.com, have been appointed to the iVillage Board of Directors: James M. Asher, Cathleen P. Black and Al Sikes. Related Links: · iVillage · Women.com · Hearst Corporation 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 © 1997-2010 by Writers Write, Inc. All Rights Reserved.