<PAGE> 1
Exhibit 99.1
CONTACT INFORMATION:
INVESTORS:
Kate Rajeck
Quokka Sports, Inc.
415/908-3800
[email protected]
PRESS:
Caryn Marooney
OutCast Communications
415/392-8282
[email protected]
QUOKKA SPORTS CLOSES ACQUISITION OF CONTROLLING INTEREST OF GOLF.COM
San Francisco, California (October 3, 2000) - Quokka Sports, Inc. (Nasdaq:
QKKA), a leading provider of sports entertainment for the digital world(TM),
today announced the successful completion of the acquisition of a controlling
interest in Golf.com L.L.C., a leading golf Internet property. Quokka Sports
announced a definitive acquisition agreement to acquire controlling interest on
June 8, 2000.
Under the terms of the agreement, Quokka Sports issued approximately 3.9 million
shares of common stock in exchange for 71% of the ownership interest of the
privately held Golf.com L.L.C. NBC Sports will retain its 29% ownership of
Golf.com.
The acquisition will extend the reach of the Quokka Sports Network in mainstream
sports to the international golf community. In the U.S. alone, golf industry
experts estimate there are over 30 million golf enthusiasts, approximately
one-third of which are online. The first event the companies covered together
was the 100th US Open in Pebble Beach. Upcoming online coverage on www.Golf.com
will include audio and video news reports, digital photo and video images,
expert commentary, live course action and data analysis. Golf.com is also the
primary golf coverage vehicle for MSNBCSports.
"The addition of Golf.com expands our network presence to a highly valuable
audience, the international golf community. This is our second business venture
with NBC Sports, and we look forward to working together to expand and enhance
NBC Sports' critically acclaimed television coverage of golf. With our unique
digital entertainment style, technology platform and production expertise, we
will continue to execute on our mission to change the way sports enthusiasts
experience sport, while bringing new opportunities to our sponsor and content
syndication customers," said Alvaro Saralegui, Chief Operating Officer of Quokka
Sports.
"Based upon the great success of our NBC/Quokka Sports partnership on
NBCOlympics.com, Quokka's production and technology expertise will be a great
fit for golf.com," said Ken Schanzer, President, NBC Sports. "NBC Sports looks
forward to developing the converged television and web experience to the golf
world with our partners at Quokka."
<PAGE> 2
ABOUT QUOKKA SPORTS
Quokka Sports, a leading provider of sports entertainment for the digital
world(TM), creates complete interactive sports experiences that fulfill the
passions of sports enthusiasts worldwide. Quokka Sports (Quokka.com) leverages
digital technology to offer rich, immersive presentations that include live
event coverage, analysis, news and information, audio and text dispatches from
athletes, games, community forums, and premium shopping. The Quokka Sports
Network is comprised of several sport verticals that feature some of the world's
premier sporting properties. These include year-round coverage of 35 Olympic
sports (NBCOlympics.com), Sailing (QuokkaSailing.com, AmericasCup.org,
BTChallenge.com, VolvoOceanRace.org), Motor Racing (CART.com, MotoGP.com) and
Action Sports (MountainZone.com coverage of skiing, climbing, hiking,
snowboarding, adventure racing and mountain biking). Quokka Sports develops its
content for a broad range of digital platforms from narrowband and broadband
Internet to wireless and converged devices. Quokka Sports' innovative sports
entertainment productions are enabled by Quokka Performance Team members Compaq
Computer Corporation, Computer Associates International, Inc. and Intel
Corporation. Quokka Sports has offices in San Francisco, London, New York and
Seattle.
###
"Quokka," "Quokka Sports" and "MountainZone" are registered trademarks, and
"Quokka Sports Immersion," "Qnews," "What Happens Next," "Sports Entertainment
for the Digital World," "Wired Athlete," "Athlete's Voice" and the Quokka Logos
are trademarks of Quokka Sports, Inc.
Cautionary Statement Under The Private Securities Litigation Reform Act Of 1995:
Except for the historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertainties,
including the Company's ability to improve profitability, complete pending
acquisition transactions, achieve anticipated efficiencies, achieve its growth
objectives, expand the Quokka Sports Network, attract and retain sponsors and
advertisers, attract and retain an audience, and develop and launch programming
and new products, as well as the other risks detailed from time to time in the
Company's SEC filings, including its Report on Form 10-K for the year ended
December 31, 1999, its Quarterly Report on Form 10-Q for the quarter ended June
30, 2000 and filings related to pending acquisition transactions. Actual results
could differ materially from those discussed and reported results should not be
considered as an indication of future performance. All forward-looking
statements are based on information available to the Company on the date hereof,
and the Company assumes no obligation to update such statements.
