RealTime IT News

MBNA America Bank in $100M Deal With Infoseek

MBNA America Bank, the largest independent credit card lender in the world, signed a marketing deal valued at up to $100 million with Infoseek Corp., operator of the GO Network.

The multi-year marketing agreement will provide a no-annual-fee affinity credit card program, including online solutions, to consumers at participating GO Network sites.

MBNA will get advertising exposure to GO Network's millions of users.

Participating GO Network sites include GO.com, Infoseek.com, ABCNEWS.com, ESPN.com, Mrshowbiz.com, Wallofsound.com, NFL.com and NASCAR Online.

The three-year agreement, which includes a mutual option to renew for two years, will generate a guaranteed $85 million over five years, based on the advertising buy, and a total of up to $100 million in potential revenues for Infoseek, based on revenue related to new accounts and a revenue share on charge activity.

The GO Network, launched in January 1999 in partnership with The Walt Disney Co., claims 22 million users. Disney owns 43 percent of Infoseek

"This agreement allows us to align with a premier Internet network that leverages some of the most recognizable brands in the world," said Said John R. Cochran, MBNA's chief marketing officer. "We look forward to introducing together many innovative products and services, as well as integrating and developing future Internet capabilities and strategies."

"The vision of GO Network is to bring premier brands and services into one integrated experience for consumers. MBNA is taking the lead as our flagship partner for affinity marketing programs," said Harry Motro, president and CEO of Infoseek.

MBNA and Infoseek said they would work together toward extending value-added services to MBNA's online banking customers. The two companies will produce a co-branded site that will offer MBNA's 35 million cardholders and new GO Network affinity cardholders account information at a GO.com URL. The site is expected to launch by June.

MBNA and Infoseek will introduce an affinity credit card program that offers several card designs representing GO Network brands, including GO.com, ABCNEWS.com and ESPN.com. GO Network affinity cards will award cardholders online rebates and points that can be used toward future purchases and special product offers.

MBNA Corp., a bank holding company and parent of MBNA America Bank, has $59.6 billion in managed loans.