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Stocks X / Xoom.com, Inc.
|Subject: Re: Insiders selling||Date: 11/23/1999 7:23 AM|
|Author: rolv||Number: 219 of 231|
what if they buy????? - see bold
Xoom.com (XMCM: news, msgs) gained 9.2 percent after an unusually active trading session Friday that lifted shares 3 percent. Shareholders of the online direct marketer are expected to vote Nov. 24 in San Francisco on the three-way merger that combines Xoom.com; General Electric's (GE: news, msgs) NBC; Snap.com, operated by CNet and NBC; and certain NBC Internet properties. Should shareholders approve the deal, Xoom's ticker will change to (NBCI: news, msgs) and begin trading soon after.
Executives close to Xoom said that NBC President Bob Wright bought $1 million worth of Xoom shares last week. Wright was not immediately available to comment.
Xoom is to own a 38 percent stake in the new portal, to be called NBC Internet, or NBCi. CNet will own 14 percent and NBC the remainder. It's unclear, however, whether that ownership structure will remain after the deal closes or CNet will sell its stake.
Executives at CNet declined to comment. Xoom Chief Executive Chris Kitze could not comment on the activity, citing a "quiet period" surrounding the transactions related to the merger.
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