FOR IMMEDIATE RELEASE:
The Green Witch
CMGI Acquires Green Witch; Combines Open Source, Streaming Media Leader With iCAST
Acquisition Propels iCAST To Forefront of Internet Radio, Brings Expert Team of Open Source Programmers
Andover, Mass. and San Francisco, CA -- January 18, 2000 -- CMGI, Inc. (Nasdaq: CMGI), the world's largest and most diverse network of Internet companies, today announced it has acquired Green Witch, LLC (The Green Witch Internet Radio), the leading provider of open source Internet radio broadcast solutions. Green Witch Internet radio runs on Icecast, an innovative open source audio streaming server software used by Internet media companies and personal broadcasters to stream MP3 music. Green Witch will become part of iCAST.
The Icecast open source streaming media server will enable iCAST to offer a wide range of high-quality Internet radio streams to a broad audience of listeners. Icecast streams can be played by nearly any of the currently available media players, including Windows Media Player, Real G2, Sonique and WinAmp. Green Witch broke new ground in March 1999, when it became the first major Internet radio broadcaster to use Icecast software to stream MP3 music online. Green Witch's current offering of music streams will be available for iCAST.com's upcoming debut and is intended to be significantly expanded upon thereafter.
"Green Witch's success as an open source software company and its dedication to empowering music listeners, musicians and broadcasters make it a perfect addition to iCAST," commented David Wetherell, chairman and CEO of CMGI. "I'm thrilled to have such a visionary company joining the CMGI network and look forward to exploring the many future innovations possible with open source software."
"We are very happy to become part of iCAST," said Patrick Mahoney, president of Green Witch. "We realized that in order to grow Green Witch beyond its success as an Internet radio company, and to thrive in a traditional music space, we would need the marketing, capital, resources and Internet business expertise that very few companies could provide. We've felt all along that CMGI is the best company to work with, and that its experience developing early stage Internet companies will help catapult Green Witch toward our most ambitious goals."
Icecast is an open source MP3 streaming server under the GNU General Public License (GNU GPL) that allows programmers to alter its code to better suit their particular needs, or improve the streaming audio sound quality for their audience. Green Witch shares all of its software innovations to Icecast freely with the open source community under the GNU GPL. Green Witch's scalable, multi-processor Linux cluster, which allows a large number of songs to be efficiently prepared for Internet radio broadcasting, will allow iCAST to offer independent musicians an easy way to have their music heard online. iCAST and Green Witch will continue working with the open source programming community to develop new forms of high-quality streaming audio and video technology and to further advance the growth of free online music.
About Green Witch Internet Radio
Green Witch (www.greenwitch.com) is a new type of music company working to empower musicians and bring free, diverse music to listeners with no commercial interruptions. Green Witch is a music, technology and infrastructure company focusing on research and development. The Green Witch is licensed by ASCAP and BMI, and complies with the Digital Millennium Copyright Act. Tune in to Green Witch's numerous and growing professionally programmed music channels.
iCAST (www.icast.com) is a multi-media rich, online entertainment company that champions self-publishing within a personalized, community oriented environment. iCAST.com empowers individuals with the tools to create, customize and share their personal entertainment passions. It will offer original, user-generated and syndicated audio and video content, entertainment news, features and interviews, live and archived events, and more. iCAST and the iCASTER, its downloadable media player, use Microsoft's Windows Media as its preferred streaming media format.
With 60 companies, CMGI, Inc. (Nasdaq: CMGI) represents the largest, most diverse network of Internet companies in the world. This network includes both CMGI operating companies and a growing number of synergistic investments through its venture capital affiliate, @Ventures. CMGI leverages the technologies, content and market reach of its extended family of companies to foster rapid growth and industry leadership across its network, and the larger Internet Economy. Compaq, Intel, Microsoft, Pacific Century CyberWorks and Sumitomo hold minority positions in CMGI.
CMGI's majority-owned operating companies include Engage Technologies (Nasdaq: ENGA), NaviSite (Nasdaq: NAVI), 1ClickBrands, 1stUp.com, Activate.net, Activerse, AdForce, Adsmart, AltaVista, CMGI Solutions, Flycast, iCAST, Magnitude Network, MyWay.com, NaviNet, SalesLink, Tribal Voice and ZineZone. The company's @Ventures affiliates have ownership interests in Lycos, Inc. (Nasdaq: LCOS), Critical Path (Nasdaq: CPTH), Silknet (Nasdaq: SILK), Chemdex (Nasdaq: CMDX), MotherNature.com (Nasdaq: MTHR), Asimba.com, AuctionWatch.com, Aureate Media, blaxxun, BizBuyer.com, Boatscape.com, buyersedge.com, CarParts.com, CraftShop.com, eCircles.com, eGroups.com, EXP.com, FindLaw, FoodBuy.com, Furniture.com, HotLinks, INPHO/HomePriceCheck.com, Intelligent/Digital, KOZ.com, Mondera.com, MyFamily.com, NextMonet.com, NextPlanetOver.com, Oncology.com, OneCore.com, PlanetOutdoors.com, Productopia, Raging Bull, SnapFish.com, Speech Machines, ThingWorld.com, Vicinity, Virtual Ink, Visto, Vstore and WebCT.
CMGI Corporate headquarters is located at 100 Brickstone Square, Andover, MA 01810. Telephone: 978-684-3600. Fax: 978-684-3814. Additional information is available on the company's Web site at http://www.cmgi.com.
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This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address a variety of subjects including, for example, the expected benefits resulting from the acquisition of Green Witch by CMGI, the expected contribution of Green Witch to iCast, and management's plans and objectives for future operations. These risks and uncertainties include, without limitation, risks associated with the difficulty of integrating Green Witch, the potential failure to achieve the beneficial synergies which may be expected to result from the acquisition, Green Witch's dependence upon the open source business model, Green Witch's reliance upon independent icecast developers and programmers, the expected benefits to be provided by the Green Witch programmers, management of growth, reliance upon strategic relationships, the launching and expansion of iCast's and Green Witch's business focuses and operations, the possibility of undetected software errors, the unenforceability of the GNU General Public License and other licenses under which Green Witch's products are developed and licensed, the risks of economic downturn generally, and in Green Witch's and iCast's respective industries, the risks associated with competition and competitive pressures, the viability of the Internet, and the expected benefits to CMGI and/or iCast resulting from the acquisition of Green Witch. For a detailed discussion of these and other cautionary statements, please refer to CMGI's filings with the Securities and Exchange Commission, including CMGI's Annual Report on Form 10-K for the most recently ended fiscal year.