For more information, visit the Geocast Web site at http://www.geocast.com. Visit Thomson Multimedia on the Web: http://www.thomson-multimedia.com.
Geocast Network Systems Selects Thomson Multimedia To Develop, Manufacture, Market 'Beyond-The-Internet' Digital Television Receivers
Geocast Network Systems, Inc. announced today that Thomson Multimedia (NYSE: TMS), the manufacturer and marketer of RCA, ProScan, and GE-brand home entertainment and information products, will develop, manufacture and market the Geocast receiver under the RCA brand. Geocast and Thomson will collaborate to develop the Geocast receiver that will deliver digital-quality audio, full-motion video and instant software downloads to the PC. In addition, Geocast receives a $15 million investment and gains James E. Meyer, Senior Executive Vice President and Chief Operating Officer, Thomson Multimedia, as a member of Geocast's board of directors. Geocast is setting the framework for a comprehensive new service and network that will deliver customized rich-media information and entertainment programming to the PC desktop via digital TV broadcast signals. By combining the efficiency and immediacy of broadcast with the customization and control of the PC, Geocast will give consumers personalized content with CD-quality audio, full-motion video and instant software downloads. Geocast is backed by funding from Mayfield Fund, Kleiner Perkins Caufield & Byers and Institutional Venture Partners. ""With our rich history of innovation in home entertainment and information product, consumers look to RCA for revolutionary technologies. The Geocast network and service will radically improve the way PC users get information and entertainment and Thomson's role of delivering an RCA branded Geocast receiver is yet another example of our broadcast and digital technology leadership,"" Meyer said. ""Thomson's investment in Geocast is one more step in the process of building a comprehensive new wireless digital data broadcasting service in the United States that will offer rich content initially for the PC, and potentially for all home-based digital devices including digital TV sets and emerging information appliances,"" said Meyer. ""We're excited to be working closely with THOMSON multimedia, whose trusted brands and proven marketing and distribution expertise can help ensure that Geocast receivers and service will become available to consumers on a wide-scale basis,"" said H. Joseph Horowitz, Chairman and CEO of Geocast Network Systems. ""Our agreement with the nation's number one consumer electronics manufacturer and marketer further strengthens the three pillars upon which our business strategy is based: rich-media content and entertainment programming; digital broadcast bandwidth; and Geocast receiver distribution."" This announcement comes on the heels of the alliances with both Hearst-Argyle Television, Inc. (NYSE: HTV) and A. H. Belo Corp. (NYSE: BLC) to provide to Geocast digital television broadcast bandwidth, content and promotional opportunities. Those agreements extended Geocast's potential market reach to more than 30 million homes or nearly a third of all U.S. households. In addition, Geocast recently announced agreements in which they will benefit from content relationships with Electronic Arts (NASDAQ: ERTS) and Liberty Media Corp. (NYSE: LMG.A and LMG.B). The agreement with Thomson Multimedia further advances the Geocast effort to provide rich media programming through the digital airwaves. With the Geocast service, PC users can create personal preferences that deliver on-demand traffic and weather updates, sports highlights, stock quotes, entertainment or breaking news. They will also have access to premium news and entertainment programming developed and broadcast by local television stations for Geocast users. Geocast allows users to decide which segments of news and entertainment information they want to view at their convenience. About Geocast Network Systems, Inc. With headquarters in Menlo Park, California, Geocast Network Systems is building a new network that leverages digital broadcast infrastructure to deliver rich-media information and programming to the PC desktop. Geocast is backed by the premier venture firms of Mayfield Fund, Kleiner Perkins Caufield & Byers, and Institutional Venture Partners. In addition, Geocast has developed agreements with leaders in the broadcast, programming and consumer electronics industries. These partnerships include Hearst-Argyle Television, Inc., A. H. Belo Corp., Liberty Media Group, Electronic Arts and Thomson Multimedia. Board members include H. Joseph Horowitz; Chairman and CEO of Geocast, Kevin Fong of Mayfield Fund; William Randolph Hearst III of Kleiner Perkins Caufield & Byers; Bob Marbut, Chairman and Co-Chief Executive Officer of Hearst-Argyle Television, Inc.; Robert W. Decherd, Chairman, President, and Chief Executive Officer of A. H. Belo Corp.; James E. Meyer, Senior Executive Vice President, Thomson Multimedia; Robert R. Bennett, President and Chief Executive Officer of Liberty Media Group; Don Mattrick, President of Worldwide Studios for Electronic Arts; and Tsutomu Shimomura, one of the founders of Geocast. About Thomson Multimedia With sales over $6 billion in 1998 and 48,000 employees in over 30 countries, Thomson Multimedia (NYSE: TMS) is the fourth largest global supplier of consumer electronics products. The group has four main activities: Displays and Components, Consumer Products, New Media Services, Patents and Licensing. Within its activities Thomson Multimedia develops, manufactures and sells television displays and components, consumer products such as televisions, VCRs, camcorders, audio and communications products, digital decoders, DVD players and professional video equipment. Thomson Multimedia is the parent company of the U.S.-based Thomson Consumer Electronics, Inc.