XOOM.com, Inc. Stockholders Approve NBC Internet, Inc. (NBCi) Transactions In Landslide VotesPR Newswire, Wednesday, November 24, 1999 at 12:54'NBCi' Stock Expected to Begin Trading on Nasdaq on Tuesday, November 30, 1999 NBCi's Aggregate Services to Become the Seventh Most-Visited on the Web* SAN FRANCISCO, Nov. 24 /PRNewswire/ -- In a special stockholder meeting inSan Francisco earlier today, XOOM.com, Inc. (NASDAQ:XMCM) stockholdersoverwhelmingly voted to approve agreements entered into by XOOM.com and two ofits subsidiaries; NBC and affiliates of NBC; CNET; and Snap relating to theformation of a new company to be named NBC Internet, Inc. and referred to asNBCi. All NBCi related transactions are expected to close by Tuesday,November 30, 1999, at which time the new company's ticker symbol, NBCI, isexpected to begin publicly trading on The Nasdaq Stock Market(R). Eachpublicly-held share of XOOM.com will convert into the right to receive oneshare of NBCI Class A stock. Also on Tuesday, November 30, NBCi will hold apress conference in New York to provide more information about the newcompany. Upon completion of the NBCi transactions, NBC is expected to own a47.3 percent stake, XOOM.com stockholders are expected to own a 38.8 percentstake and CNET is expected to own a 13.8 percent stake in NBCi. NBC will alsopurchase two convertible debt instruments, which, if converted at a futuredate, could result in majority ownership of NBCi and the ability to name amajority of the board of directors. In addition, as part of the transactions, NBC's President and CEO,Bob Wright, will become Chairman of NBCi, and XOOM.com chairman, Chris Kitze,will become Chief Executive Officer of NBCi. NBCi will become one of the first publicly traded Internet companiesintegrated with a major broadcaster and will use Snap.com as its umbrellaconsumer brand, integrating broadcast, portal, community and e-commerceservices. NBCi's aggregate services will become the seventh most-visited onthe Internet.* About XOOM.com, Inc. XOOM.com, Inc. is one of the fastest-growing community-based sites on theWeb and a leading direct e-commerce services company. XOOM.com offersconsumers high-quality, free services over the Web, including homepagebuilding, chat rooms, message boards, HTML email, online greeting cards, a Webpage counter, clip art and downloadable software. XOOM.com has pioneereddirect e-commerce on the Internet by targeting its members with product andservice offers relevant to their needs and interests. To date, the companyhas attracted more than 11.3 million members. XOOM.com, which was founded inSeptember 1996, is headquartered in San Francisco and has offices in New YorkCity, Los Angeles and Paris, France.
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