Hamburg, San Francisco (ots)
- Bertelsmann, the most international
media company, and iSyndicate today announced the agreement of the
European joint venture "iSyndicate Europe". The joint venture will
provide content syndication services and technology to media
properties throughout Europe. It will combine Bertelsmann's global
media network with iSyndicate's syndication expertise and
relationships with more than 1100 independent content providers to
deliver syndicated media to Web sites of all sizes and wireless
Each partner will hold a 50 percent stake in the enterprise. The
company's headquarters will be located in Hamburg, Germany with
iSyndicate's existing London office serving as the first affiliate
office. Bertelsmann has the right to appoint the CEO of iSyndicate
Under the terms of the agreement, Bertelsmann will acquire a four
percent stake in US-based parent company iSyndicate Inc..
Bertelsmann's Chief Creative Officer Rolf Schmidt-Holtz will also
join iSyndicate's board. iSyndicate's other strategic partnerships
include NBC, Microsoft, NewsCorp, InfoSpace and Vignette.
iSyndicate Europe will enable web sites of all sizes, corporate
intranets and digital devices to enrich their content offerings with
services and media from the widely recognizable publishing brands.
iSyndicate Europe will syndicate a wide range of independent content
providers in addition to Bertelsmann media properties, enabling
content providers to generate increased revenue and brand awareness.
Bertelsmann's entry into the syndication business will be assumed
by the new Bertelsmann Content Network Division under the direction
of Rolf Schmidt-Holtz. Schmidt-Holtz stated: "Bertelsmann is a
content-powerhouse. The joint venture is an important step toward
strengthening our position in the content sector. We want to ensure
that Bertelsmann's diverse content is available wherever the customer
wishes and expects to find it. Syndication represents a huge
opportunity, because the market is growing extremely fast. In
iSyndicate, we have found the ideal partner to establish the
syndication business throughout the whole of Europe. It will be a
system open to all content providers who have been invited to put
their content to work through this platform."
Joel Maske, co-founder, President and CEO of iSyndicate and
Chairman of the newly created iSyndicate Europe, commented: "Now that
the European market for content syndication is poised for growth,
iSyndicate wanted a strategic partnership with a significant media
player. Bertelsmann is an ideal partner for us to go into Europe
with, as the company is synonymous with media content and together we
will deliver solutions to build the syndication market."
The joint venture, between iSyndicate and Bertelsmann as one of
the world's largest media enterprises, is creating a platform that
will enable Bertelsmann companies to make optimal commercial use of
their content, thereby generating further income streams.
The content available through iSyndicate covers virtually every
category, topic, and type found on the Web today, such as, breaking
news, feature articles, commentary, sports scores, stock quotes,
comics, puzzles, games, weather, photos, and rich media including
full-motion video, and music.
As the world's most international media enterprise, Bertelsmann
commands leading positions in the global media and entertainment
industries. The Bertelsmann Group consists of publishing and music
companies, book and music clubs, magazines and newspapers, television
and radio stations, print and media service providers, multimedia and
professional information companies represented by such brands as
Random House, BMG, Gruner + Jahr and RTL. Bertelsmann is the world's
largest general-interest publisher and the biggest English-language
publishing house worldwide. Bertelsmann book and music clubs are
number one worldwide. Through RTL Group and Gruner + Jahr, the
company ranks first in the European broadcasting and magazine
sectors, respectively. Bertelsmann is the worldwide leading media
company in the internet, and top ranking in its peer market in
e-commerce with BOL in Europe and barnesandnoble.com in the US. The
organization currently employs 76,000 people in 54 countries and
posted 32,4 billion DM in total revenues in the 1999/00 financial
year ended June 30, 2000.
Rolf Schmidt-Holtz (52) is CLT-UFA's former Chairman. He joined
the Executive Board of Bertelsmann AG as of July 1, 2000 as its
eighth member. This appointment points the way to the future for
Bertelsmann. Management intends to intensify cooperation across
company and divisional boundaries, step up content digitization and
networking, and resolutely zero in on communities of interests.
Bertelsmann's new Executive Board content network mandate has been
assigned the task of building cross-media content brands, optimizing
the commercial usage cycle of its content through syndication, and
acquiring stakes in outside companies with a view to entering into
new fields of business.
iSyndicate is a leading provider of content syndication services
and technologies on the Internet. Today, the company aggregates,
packages, integrates and delivers a breadth of content including
audio, video, animations, interactive games, comics and weather from
more than 1100 trusted sources, including The Associated Press, CBS
SportsLine, CNBC, CNET, Reuters, RollingStone.com and Salon.com, all
in real-time. In the UK, content providers include: The Register, The
Guardian Online, Haymarket Business Publications, FT.com and
Virgin.net, among others. This content is made available by
iSyndicate to over 270,000 customers, including Citibank, Intel,
OmniSky, Nortel Networks, Nintendo, Wells Fargo, and Xoom.com.
iSyndicate supports the ICE (Information & Content Exchange) standard
based on XML among a variety of others for all of its content.
iSyndicate is based in San Francisco with offices in New York and
London, and is backed by venture capital firms Scripps Ventures and
Labrador Ventures; investment bank Chase Hambrecht & Quist;
Infospace.com and Vignette Corporation; NBC (GE), Microsoft and News
Corporation; and individual investors
ots Originaltext: Bertelsmann AG
For further information please contact:
Bertelsmann AG - Media and Financial Relations
Phone: +49 (0) 5241 80 2466
Kelly Scutt / Nick Morris
Phone: +44 (0)20 8741 1123
Original-Content von: Bertelsmann SE & Co. KGaA, übermittelt durch news aktuell