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Technology Journal:
NBCi Shares Fall 14% in 1st Day of Trading

The Wall Street Journal Europe
Page 9
(Copyright (c) 1999, Dow Jones & Company, Inc.)

SAN FRANCISCO -- NBC Internet Inc., NBC's publicly traded company comprising some of its major Internet holdings, finished its first day of trading down 14%.

The drop comes one day after shares of, which was folded into NBCi, rose 24% in anticipation of Tuesday's launch of the new company.

NBCi shares were at $76 (75.35 euros) in midday trading Wednesday on the Nasdaq Stock Market.

NBCi also said it struck a deal with Clear Channel Communications Inc., which owns 425 radio stations, to market and promote its online offerings on Clear Channel's stations and Web sites. NBCi said it would pay Clear Channel $20 million over three years. Lowry Mays, chairman of Clear Channel, will join NBCi's 13-person board.

NBCi agreed to spend $405 million on advertising on the NBC network and on its cable channels CNBC and MSNBC over the next four years.
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