iVillage Inc. Acquires Business Women's Network

Posted on July 25, 2001

iVillage Inc., an online women's media company, announced that it has acquired control of Public Affairs Group, Inc., operator of Business Women's Network (BWN), a privately-held, Washington, DC-based company. BWN connects over 5,000 national and international women's businesses, professional organizations, and websites that represent approximately 39 million executive and entrepreneurial women. The acquistion follows iVillage.com's recent acquisition of Women.com, which resulted in numerous layoffs.

``Our acquisition of Business Women's Network continues to build on our strategy of subscription-based businesses and provides us with an incredible opportunity to bolster the content and services we offer to our visitors,'' said Doug McCormick, Chairman and Chief Executive Officer of iVillage. ``Our executive-level access to more than 250 of the Fortune 500 companies and BWN's high-end customer base provide us with greater opportunities for expanded sales offerings. In building iVillage media schedules and paid e-mail services into BWN's core offerings, we are enhancing the value of BWN to its customers while growing iVillage.com revenues.''

Business Women's Network has become a subsidiary of iVillage Inc. Edie Fraser will remain Chief Executive Officer, and BWN and its 21 employees will remain based in Washington, DC. The transaction will be accounted for as a purchase.

iVillage is a women's media company, which includes iVillage.com, Women.com, Business Women's Network, Lamaze Publishing, The Newborn Channel, iVillage Solutions and Astrology.com. Lamaze Publishing produces advertising-supported educational materials for expectant and new parents. The Newborn Channel is a satellite television network in over 1,000 hospitals nationwide.