iVillage Issues Statement Regarding Its Definitive Agreement to Acquire iVillage.co.uk
March 31 2005 - 1:38PM
PR Newswire (US)
iVillage Issues Statement Regarding Its Definitive Agreement to
Acquire iVillage.co.uk NEW YORK, March 31 /PRNewswire-FirstCall/ --
iVillage Inc. (NASDAQ:IVIL), The Internet For Women(TM), a leading
women's media company and the number one women's community online,
today issued a statement regarding its definitive agreement to
acquire the iVillage.co.uk website and certain related assets,
which was announced earlier this morning. Douglas W. McCormick,
Chairman & Chief Executive Officer, iVillage Inc. said, "While
we are pleased to gain ownership of the iVillage.co.uk website and
certain related assets, a move, we believe, that will generate
increased value for our stockholders, moving forward we do not
expect the transaction to have a material effect on iVillage's 2005
results of operations, financial condition or cash flows. We
consider iVillage.co.uk to be a growth business with its potential
materializing in 2006." The Company currently plans to provide
further information on this transaction when it reports its first
quarter 2005 financial results after the market closing on May 4,
2005. About iVillage Inc. iVillage is "the Internet for women" and
consists of several online and offline media-based properties that
seek to enrich the lives of women, teenage girls and parents
through the offering of unique content, community applications,
tools and interactive features. iVillage Inc. (NASDAQ:IVIL) was
established in 1995 and is headquartered in New York City. Average
monthly page views for iVillage.com and its affiliate Web sites
("The iVillage Network") totaled nearly 374 million for the quarter
ended December 31, 2004. In December 2004, according to comScore
Media Metrix, The iVillage Network ranked 31st among the top 100
Web and Digital Media properties with approximately 16.9 million
unique visitors in the United States and had an average reach of
more than 10.5% of the total online population and approximately
14% of women 18+ online. Also, according to the same report, The
iVillage Network was the number one "women's community site" and
the number four "community site" overall on the Web. For more
information about iVillage, visit http://www.ivillage.com/. Safe
Harbor Statement under the Private Securities Litigation Reform Act
of 1995: iVillage Inc. has included in this press release certain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 concerning iVillage's
business, operations and financial condition. The words or phrases
"can be," "expects," "may affect," "anticipates," "may depend,"
"believes," "estimates," "plans," "projects" and similar words and
phrases are intended to identify such forward-looking statements.
These forward-looking statements are subject to various known and
unknown risks and uncertainties and iVillage cautions you that any
forward-looking information provided by or on behalf of iVillage is
not a guarantee of future results, performance or achievements.
Actual results could differ materially from those anticipated in
these forward-looking statements due to a number of factors, some
of which are beyond iVillage's control. In addition to those risks
discussed in iVillage's other press releases, public filings and
statements by iVillage's management, factors that may cause
iVillage's actual results, performance or achievements to differ
materially from any future results, performance or achievements
expressed or implied in such forward looking statements include:
(i) the volatile and competitive nature of the Internet industry
and the media industry, (ii) changes in domestic and foreign
economic, political and market conditions, (iii) the effect of
federal, state and foreign regulation on iVillage's business, (iv)
the impact of recent and future acquisitions and joint ventures on
iVillage's business and financial condition, (v) iVillage's ability
to establish and maintain relationships with advertisers, sponsors,
and other third-party providers and partners, (vi) iVillage's
ability to maintain or increase user traffic levels, (vii) the loss
of one or more of iVillage's major customers and (viii) the impact
of pending litigation on iVillage's business, results of operations
and financial condition. All such forward-looking statements are
current only as of the date on which such statements were made.
iVillage does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events. DATASOURCE: iVillage Inc.
CONTACT: Carl Fischer of iVillage Inc., +1-212-600-6502, ; or
Carina Thate, or Eliza Johnson, , both of The Abernathy MacGregor
Group, +1-212-371-5999 Web site: http://www.ivillage.com/
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