<PAGE> 1
Filed by Intel Corporation Pursuant
to Rule 425 and Rule 14(a)-12 under
the Securities Act of 1933
Subject Company: Intel Corporation
Commission File No.: 000-6217
The following is a press release of September 13, 2000 concerning the
transaction between Intel Corporation and NBA Media Ventures, LLC described in
the press release issued by Intel Corporation, Excalibur Technologies
Corporation and NBA Media Ventures, LLC.
INTEL AND THE NATIONAL BASKETBALL ASSOCIATION
TO DELIVER ENHANCED INTERACTIVE PROGRAMMING
INTEL TECHNOLOGY TO ENABLE SPORTS AND ENTERTAINMENT CONTENT ONLINE
New York, NY, September 13, 2000 - Intel Corporation and the National Basketball
Association (NBA) announced today an agreement whereby Intel and the NBA will
develop and distribute interactive NBA content, including enhanced broadband
programming and interactive game broadcasts. The initial products to be
developed under the agreement will enable users to access daily customized NBA
and WNBA highlights and classic moments through NBA.com, WNBA.com and the
leagues' 45 team Web sites.
As part of today's agreement, the NBA will join Intel and Excalibur Technologies
in a new company they are forming called Convera Corporation. The NBA will
receive a 10 percent equity stake in Convera and Commissioner David Stern will
join the company's Board of Directors.
Intel will assign the NBA agreement to Convera upon completion of the
Intel-Excalibur transaction, expected later this fall. Intel and Excalibur
announced May 1 that they would form the new company to enable owners of branded
high-value content such as the NBA to produce and securely sell their audio,
video and other forms of content over the Internet. Convera's services will
include key Intel and Excalibur technologies, including content protection,
indexing
<PAGE> 2
and search of digital material, and other technologies necessary for the secure
delivery of content online.
"With this agreement with Intel, we believe that essentially we've created the
recipe for new ways that sports and entertainment will be delivered in the
future," said NBA Commissioner David Stern. "Providing fans with unmatched
access to a new level of interactive media such as daily customized highlights
and classic footage available on demand from our vast archives enables us to
offer personalization for the user's experience."
The NBA will use its marketing and consumer knowledge and expertise to further
develop applications for its network of Web sites, its business partners, and
for NBA.com TV, the league's 24-hour digital television network. The agreement
will provide for new forms of interactive advertising, new commerce
opportunities, subscriptions and video on demand.
"Today's announcement marks a significant milestone in sports entertainment,"
said Craig Barrett, Intel president and chief executive officer. "Intel and the
NBA will be working to enable a whole new experience for fans online. We're
excited to be working with one of the leaders in the sports world who has
clearly identified the Internet opportunity and is moving quickly to unlock the
value, and the action, from their extensive audio and video material."
The NBA was ahead of the interactive media trend when it was the first to launch
a full time television network, NBA.com TV, in the fall of 1999. The creation of
NBA.com TV represents the first step in convergence, combining Internet
technology with the television viewing experience, and thus signaling the first
move into broadband and interactive television.
The agreement between Intel and the NBA is subject to regulatory approval, as
well as the approval of the NBA's Board of Governors.
<PAGE> 3
ABOUT INTEL
Intel, the world's largest chip maker, is also a leading manufacturer of
computer, networking and communications products. Additional information about
Intel is available at www.intel.com/pressroom.
ABOUT THE NBA
The NBA is composed of 29 teams in the United States and Canada and is the model
for professional sports in league operations, public service, global marketing
and digital technology. The NBA supports and implements league and team programs
and helps develop the sport of basketball around the world. NBA games and
programming are broadcast to 205 countries in 42 languages. NBA Entertainment
(NBAE) -- the Emmy Award-winning production and programming division of the NBA
and WNBA -- is one of the largest suppliers of sports television and Internet
programming in the world. NBAE produces NBA.com TV, the NBA's 24-hour television
network, and several weekly television shows, and creates exclusive content for
NBA.com, WNBA.com, the 29 team sites of the NBA and the 16 team sites of the
WNBA. For more information on the NBA, visit www.nba.com.
Intel and Excalibur have filed a joint proxy statement/prospectus and
other relevant documents concerning the merger with the Securities and Exchange
Commission (the "Commission"). WE URGE INVESTORS AND STOCKHOLDERS TO READ THE
JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE
COMMISSION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and
stockholders are able to obtain free copies of these documents at the
Commission's website at www.sec.gov.
INVESTORS AND STOCKHOLDERS SHOULD READ THE JOINT PROXY
STATEMENT/PROSPECTUS CAREFULLY BEFORE MAKING A DECISION CONCERNING THE MERGER.
Intel, Excalibur and their respective officers and directors may be
deemed to be participants in the solicitation of proxies from their stockholders
with respect to the transactions
<PAGE> 4
contemplated by the agreement and plan of reorganization. Information concerning
the participants in the solicitation is set forth in the joint proxy
statement/prospectus that has been filed with the Commission.
This release contains forward-looking statements, which are based upon
current expectations or beliefs, as well as a number of assumptions about future
events. The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to numerous factors
and uncertainties, including without limitation, business and economic
conditions and growth in the computing industry, continued success in
technological advances, costs related to the proposed merger, the inability to
obtain governmental approval of the proposed merger, substantial delay in the
expected closing of the merger and the risk that Intel's and Excalibur's
businesses will not be integrated successfully, any of which may cause actual
results to differ materially from those described in the statements. In addition
to the factors discussed above, other factors that could cause actual results to
differ materially are discussed in Intel's and Excalibur's most recent Form 10-Q
and Form 10-K filings with the Commission.
