With $37.5M Investment, Mattel to Spin Off Genealogy.com - Nov. 2, 1999

Reporter: David Speakman
Date: 11-02-1999

Company/Ticker/URLMattel MAT:NYSE www.mattel.com

Company #2Hearst Interactive NOTICKER www.hearstnewmedia.com
Company #3A&E Television Networks NOTICKER www.aande.com
Company #4Genealogy.com, LLC NOTICKER www.genealogy.com
Company #5Liberty Media
Company #6Walt Disney Co.

Headline: With $37.5M Investment, Mattel to Spin Off Genealogy.com


Toy maker Mattel is teaming up with the A&E Television Networks and Hearst Interactive to spin off its successful Genealogy.com website.

The new partners will chip in 37 ½ million dollars into the Fremont California based venture.

The privately-held website company to be called Genealogy.com LLC - is currently part of the Broderbund entertainment unit of Mattels Learning Company software publishing arm.

Last month, Mattel surprised analysts when it reported a quarterly loss from Learning Company of 105 million dollars.

The toy maker said it will use the new website to help Learning Company move into interactive online software.

Before market close on Tuesday, Mattel was up more than 2% at 13 7/8.

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News & Politics

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