CNET Selects Virage as Primary Streaming Media Infrastructure Provider
Virage Interactive Application Service Is Foundation for CNET's Broadband and Content Syndication Initiatives
NAB 2000, Las Vegas, NV—April 10, 2000 —Virage, Inc., a leading provider of interactive video search products and application services, today announced that CNET Networks, Inc. (NASDAQ: CNET), the source for computers and technology, has selected Virage as its primary provider of streaming media infrastructure for CNET's web properties and content syndication initiatives. Virage will supply CNET with comprehensive broadband video services, including video indexing, video search and video publishing. In addition, CNET will make a $2.5 million private equity investment in Virage which will close concurrently with Virage's anticipated initial public stock offering.
CNET will use Virage's indexing, production and application hosting services as the foundation for publishing video content across CNET's network of sites, for new broadband initiatives, as well as for syndicating this content to other web sites. Since last year, CNET has been using Virage Interactive to integrate its television programming, product demonstration video and other video content within CNET. Virage handles everything from video encoding and indexing to application development on the site, all on a regular basis and all under direction from CNET producers.
"At CNET we are committed to providing our users with the most comprehensive technology news and reviews of hardware, software and consumer electronics, available online," stated Shelby Bonnie, CEO of CNET Networks, Inc. "Virage's video infrastructure makes it easy for us to provide CNET Television content to users, helping them to compare and buy products more easily. In addition, our syndication efforts with AOL and other leading Internet partners, create new ways for us to reach the growing broadband audience."
"As the largest producer of technology-related television programming in the world and one of the foremost Internet content providers, CNET has been a great customer for Virage to work with," said Paul Lego, chairman and CEO of Virage. "Their unique blend of television programming and Internet content has put them at the forefront of video and Internet convergence. We are excited to be a significant part of their pioneering efforts in broadband."
About Virage
Virage is a leading provider of products and application services that enable owners of video content to publish, manage, and distribute their video assets over the Internet or corporate intranets. Virage Interactive™ services provide content owners with the infrastructure for integrating Internet-compliant video into their web sites. Virage's VideoLogger™ and AudioLogger™ enable real-time indexing and distribution of video across the Internet or corporate intranets. Virage customers include ABC, AltaVista, Associated Press, BBC, Boeing, CBS, CNET, CNN, Compaq, C-SPAN, DaimlerChrysler, FBI, FOX Sports, General Electric, General Motors, Harvard Business School, iVillage.com, Lifetime Entertainment, Lockheed Martin, MGM, Morgan Stanley, NASA, NBCi/SNAP.com, New York Times, NYSE, NTT, ON24, PBS, RealNetworks, Reuters, Swiss Radio-TV, Telecinco, Yahoo! and Young & Rubicam. Headquartered in San Mateo, CA, Virage was incorporated in 1995 to provide organizations with advanced methods for searching, locating, and using video content. Contact Virage at http://www.virage.com/ or (650) 573-3210.
About CNET Networks, Inc.
CNET Networks, Inc. is a leading edge media company, producing a branded Internet network, computer product database and television and radio programming for both consumers and businesses. CNET is the leading authority on computers, the Internet and technology products and services. CNET's network serves millions of users each day. CNET Data Services licenses its multi-lingual product database to more than 40 U.S. and European online computer retailers, resellers and leading e-commerce companies. CNET television programming airs on CNBC and in national syndication, as well as nearly 100 foreign countries. In addition to providing television programming to international markets, CNET also produces localized versions of CNET's Web site and services for Hong Kong, Singapore, Japan, Korea, China, Taiwan and Australia. CNET Radio airs in the San Francisco Bay Area on KNEW 910 AM. CNET currently has investments in cash and marketable securities that are valued at more than $800 million, including its approximate 12 percent stake in NBC Internet Inc.
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