Disney Confirms Talks With Infoseek

On the heels of a GO Network marketing
blitz, the Walt Disney Co. has confirmed it is in discussions with Infoseek Corp. to acquire the remaining 57 percent of the search engine that it does not own.

No final determination has been made on the potential transaction, its
structure or terms of an agreement, the companies said late Monday. Options being considered include an exchange of a specific class of Disney common stock which would allow Disney to track the progress of joint Internet operations.

Any agreements made must be approved by both boards and regulators, with the exception of Disney-appointed directors at Infoseek.

Disney purchased 43 percent of Infoseek in February, following the successful January launch of the GO Network joint venture between the Disney and Infoseek.

Get the Free Newsletter!

Subscribe to our newsletter.

Subscribe to Daily Tech Insider for top news, trends & analysis

News Around the Web