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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities and Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): April 10, 2000
METACREATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Commission file number 0-27168
Delaware 95-4102687
(State of incorporation) (I.R.S. Employer Identification Number)
6303 Carpinteria Ave, Carpinteria, CA 93013
(Address of principal executive offices)
(805) 566-6200
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
The purpose of this Form 8-K is to file a press release issued by MetaCreations
Corporation ("MetaCreations") on April 10, 2000, announcing the appointment Bob
Rice as President and Chief Executive Officer of MetaCreations. A copy of the
press release is filed herewith as Exhibit 99.1 and is hereby incorporated by
reference to this Item 5.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
METACREATIONS CORPORATION
(Registrant)
Date: April 11, 2000 /s/ JAY W. JENNINGS
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Jay W. Jennings
Vice President, Finance and Operations
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INDEX TO EXHIBITS
Exhibit
Number Description
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99.1 Press Release dated April 10, 2000, announcing the appointment
of Bob Rice as President and Chief Executive Officer
of MetaCreations.
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EXHIBIT 99.1
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FOR IMMEDIATE RELEASE
METACREATIONS APPOINTS BOB RICE PRESIDENT AND CHIEF EXECUTIVE OFFICER
Announcement Coincides with MetaCreations' Divestiture of Graphics Software
Business
CARPINTERIA, CA, April 10, 2000 -- MetaCreations Corporation (Nasdaq: MCRE)
today announced the appointment of Bob Rice as president and CEO, expanding his
current role as president and CEO of its subsidiary company, Metastream
Corporation. Rice replaces Mark Zimmer, who resigned earlier today concurrent
with the final divestiture of MetaCreations' prepackaged software products.
In related news today, MetaCreations and Corel Corporation jointly announced
Corel's acquisition of several graphics products from MetaCreations. Under this
agreement, Corel has purchased KPT(R), KPT Vector Effects(R), Bryce(R) and
MetaCreations Painter(tm) Separately, Adobe Corporation has acquired Carrara(tm)
and Canoma(tm) as earlier announced, in connection with Adobe's strategic
e-commerce partnership with Metastream Corporation. In addition, MetaCreations
plans to announce the acquisition of Poser(R) and Office Advantage(tm) later
this week.
The appointment of Bob Rice as president and CEO of MetaCreations in conjunction
with MetaCreations' divestiture of its graphics software business represents a
further advance in the company's strategic repositioning around the e-commerce
visualization technologies of its subsidiary, Metastream Corporation. As was
announced in December of 1999, MetaCreations will focus exclusively on the goals
and objectives of Metastream, which include promoting the adoption of its
Metastream technology as the industry leading Web-based marketing visualization
solution.
"The objectives of Metastream and MetaCreations are now one in the same: to
promote the Metastream technology as the industry standard in providing
marketing visualizations solutions for e-commerce," said Rice. "I am excited to
lead both companies in our mutual goal and feel absolutely confident that we
have the products, the people, and the strategic focus to capitalize on an
explosive market opportunity."
Mr. Rice has a long association with MetaCreations, having served as vice
president and chief counsel of strategic affairs subsequent to MetaCreations'
acquisition of Real Time Geometry and the Metastream technology in December
1996. As president and CEO for Metastream Corporation, he has spent the past
eight months establishing the company's dominant position in the market for 3D
e-commerce visualization solutions. Prior to joining RTG, Mr. Rice was a partner
at the international law firm of Milbank, Tweed, Hadley and McCloy, where he
advised on various types of corporate transactions and issues, including capital
markets, mergers and acquisitions, and tax matters. He attended college and law
school at Florida State University, graduating with various honors and serving
as an editor of the Law Review, and is a member of the New York and Florida Bar
Associations.
Mark Zimmer, a well-known visionary of the graphics industry and the primary
author of Painter, is now in the process of founding fractal.com, a California
Corporation, together with co-founders Tom Hedges and John Derry. fractal.com
will provide new technologies and products for the new millennium. As the
original creators of the graphics package Painter, fractal.com's founders will
initially provide consultation to Corel in the development of Painter 7.
"Painter's heritage of Natural Media(R) tools and incredible creative content is
well served by Corel's acquisition," said Zimmer.
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About MetaCreations Corporation
MetaCreations Corporation is focused on providing marketing visualization
solutions for the World Wide Web and the company's Internet strategy is being
executed through its subsidiary, Metastream Corporation. MetaCreations owns 80%
of Metastream Corporation and is headquartered in Santa Barbara County,
California. MetaCreations can be reached on the Web at www.metacreations.com.
About Metastream Corporation
Metastream Corporation is the leading provider of marketing visualization
solutions and services that enable on-line retailers to host interactive product
presentations on the Internet. Metastream's primary initiatives include
licensing Metastream technologies for specific e-commerce initiatives, providing
a full range of fee-based professional services for implementing these 3-D
solutions, and forging strategic alliances with leading interactive agencies and
Web content providers. Metastream is eighty percent owned by MetaCreations
Corporation and twenty percent owned by Computer Associates International Inc.
Metastream is headquartered in New York City. Additional information about
Metastream is available at www.metastream.com.
This release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially as a result of a number of risks and
uncertainties affecting the Company's business. Such risks include, but are not
limited to, the following: no assurance that the acquisition of Poser(R) and
Office Advantage(R) will be announced later this week, that Metastream
technology will become the industry standard in providing marketing
visualizations solutions for e-commerce, that MetaCreations and/or Metastream
will be able to capitalize on an explosive market opportunity. For a more
detailed discussion of factors that affect MetaCreations' operating results,
interested parties should review MetaCreations' SEC reports, including
MetaCreations' Annual Report on Form 10-K for the year ended December 31, 1999,
and Quarterly Reports on Form 10-Q.
MetaCreations, Metastream, Kai's Power Tools (KPT), KPT Vector Effects, Bryce,
MetaCreations Painter, Carrara, Canoma, Poser and Office Advantage are either
registered trademarks or trademarks of MetaCreations Corporation. All other
products, fonts, company names and logos are trademarks or registered trademarks
of their respective owners.
Note to Editors: See separate release "Corel Completes Strategic Acquisition of
Professional Graphics Products from MetaCreations"
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Contact Information:
Betty Franklin
MetaCreations Corporation
805/566-6289
bettyf @metacreations.com
Maria Poveromo
Metastream Corporation
646/485-9115
[email protected]
