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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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FEBRUARY 23, 2000
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
THEGLOBE.COM, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-25053 14-1782422
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification
incorporation or Number)
organization)
120 BROADWAY
NEW YORK, NEW YORK 10271
(Address of principal executive offices)
(212) 894-3600
(Registrant's telephone number, including area code)
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<PAGE>
ITEM 5. OTHER EVENTS
Attached hereto as Exhibit 99.1 and incorporated by reference herein is the
press release dated February 23, 2000.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibits
99.1 Press release dated February 23, 2000.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
Dated: February 24, 2000.
theglobe.com, inc.
By: /s/ Francis T. Joyce
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Name: Francis T. Joyce
Title: Vice President and
Chief Financial Officer
EXHIBIT 99.1
SPORTSLINE.COM AND THEGLOBE.COM PARTNER IN EXCLUSIVE STRATEGIC AGREEMENT TO
BUILD COMMUNITY FOR CBS SPORTSLINE
THEGLOBE.COM TO HAVE EXCLUSIVE RIGHTS TO SELL ADVERTISING AND SPONSORSHIPS
WITHIN THE CBS SPORTSLINE COMMUNITY
FORT LAUDERDALE, FL AND NEW YORK, NY (FEBRUARY 22, 2000) - SportsLine.com,
Inc. (NASDAQ:SPLN), the leading global Internet sports media company and
publisher of CBS SportsLine (http://cbs.sportsline.com), and theglobe.com
(NASDAQ:TGLO), the leading community network, today announced a multi-year
strategic partnership whereby theglobe.com will exclusively develop and
operate community services for CBS SportsLine. Under this unique
cross-distribution and promotional partnership, theglobe.com will offer CBS
SportsLine's content and fantasy games to its extensive audience and
SportsLine.com will provide comprehensive promotion of "theglobe.com
powered" community throughout the CBS SportsLine Web site.
Beginning with CBS SportsLine's coverage of the Major League Baseball
season, theglobe.com will co-brand and customize its community services
including e-mail clubs, home page building tools and message boards for CBS
SportsLine and its industry-leading fantasy sports service,
Commissioner.COM. As part of the agreement, theglobe.com will incorporate
CBS SportsLine's content and fantasy services into its flagship community
at www.theglobe.com.
"We strongly believe that our strategic partnership with theglobe.com will
enable us to foster deeper relationships with our users, resulting in more
frequent and longer visits to our site and substantial incremental value to
both our consumers and shareholders," stated Michael Levy, founder and CEO,
SportsLine.com, Inc. "Sports fans are among the most passionate and
dedicated users of the Internet and through theglobe.com's expertise in
building community, we will provide CBS SportsLine users the best
opportunity to express their opinions and interact with other users."
"We're pleased that SportsLine.com recognizes that community is a key
component to customer retention on the Web and this partnership is an
endorsement in theglobe.com as a leader in providing best-of-breed
community tools and services," added Dean Daniels, President and Chief
Operating Officer, theglobe.com. "By leveraging our strengths with the
tremendous marketing capabilities of partners like SportsLine.com,
theglobe.com is poised to lead in the delivery of community solutions to
partners that seek to strengthen their relationship with their customers."
SportsLine.com and theglobe.com are among the leading sites on the Web in
audience reach, with very little duplication. According to the December
Media Metrix report, the combined audiences of SportsLine.com and
theglobe.com represent an unduplicated reach of 12.4% of all Web users.
Under the terms of the cross-distribution agreement, SportsLine.com will
receive a minimum guarantee of $5 million payable in theglobe.com stock
representing approximately 3% of outstanding shares in theglobe.com stock,
in exchange for prominent integration and extensive promotion of the
enhanced community throughout the CBS SportsLine site and inclusion in CBS
SportsLine's Rewards Program. Additionally, theglobe.com will have
exclusive rights to sell advertising, sponsorships and non sports-related
e-commerce within CBS SportsLine's community arena. SportsLine.com will
also have the opportunity to receive additional payments in stock or cash,
contingent upon the achievement of certain performance milestones.
ABOUT SPORTSLINE.COM, INC.
SportsLine.com, Inc. is at the leading edge of media companies providing
Internet sports content, community and e-commerce on a global basis.
SportsLine.com, Inc.'s content includes more than one million pages of
multimedia sports information, entertainment and merchandise. Founded in
1994 as SportsLine USA, Inc., the Company changed its name to
SportsLine.com, Inc. in November 1999. Its flagship Internet sports service
(http://cbs.sportsline.com) was renamed CBS SportsLine in March of 1997 as
part of an exclusive promotional and content agreement with CBS.
SportsLine.com, Inc. produces the official league Web sites for Major
League Baseball, the PGA TOUR and NFL Europe League, and serves as the
primary sports content provider for America Online, Netscape and Excite. In
May 1999, the Company commenced operations in Europe through its
majority-owned subsidiary, Sports.com Limited.
ABOUT THEGLOBE.COM
theglobe.com is a network of communities that specializes in bringing
people together around shared topics of interest. The Company delivers
"community" through four different streams: its flagship website,
(www.theglobe.com) featuring the Company's best-of-breed community
products; email clubs and web site building tools; customized community
solutions to other web properties; small business communities; and a
vibrant games information network rated number one in the world by Media
Metrix.
theglobe.com currently distributes community services and game content to
Time Warner's Road Runner, Deja.com, Alloy.com, AOL UK, Excite UK,
DirectHit.com, Deja.com, OneMain.com and Chaitime.
Note: This press release contains forward-looking statements, which involve
risks and uncertainties. SportsLine.com's actual results could differ
materially from those anticipated in these forward-looking statements.
Factors that might cause or contribute to such differences include, among
others, competitive pressures, the growth rate of the Internet, constantly
changing technology and market acceptance of the company's products and
services. Investors are also directed to consider the other risks and
uncertainties discussed in SportsLine.com's Securities and Exchange
Commission filings, including those discussed under the caption "Risk
Factors That May Affect Future Results" in SportsLine.com's latest Annual
Report on Form 10-K. SportsLine.com undertakes no obligation to publicly
release the result of any revisions to these forward-looking statements,
which may be made to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.
Safe Harbor -- this press release contains financial information and
includes forward-looking statements related to theglobe.com, Inc. that
involve risks and uncertainties, including, but not limited to, product
delivery, the management of growth, market acceptance of certain products
and other risks. These forward-looking statements are made in reliance on
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. For further information about these factors that could affect
theglobe.com's future results, please see the Company's filings with the
Securities and Exchange Commission. Prospective investors are cautioned
that forward-looking statements are not guarantees of performance. Actual
results may differ materially from management expectations. Copies of these
filings are available upon request from theglobe.com's investor relations
department. theglobe.com, theglobe.com (logo), globeclubs, Happy Puppy,
Kids Domain, Games Domain, and WebJump are service marks of theglobe.com,
inc. or its subsidiaries.
