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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): December 30, 1999
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 on December 30, 1999 announcing the election of Howard Morgan as
Chairman of the Board for MetaStream.com Corporation and other management
changes. 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: January 5, 2000 /s/JAY W. JENNINGS
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Jay W. Jennings
Vice President and Chief Financial Officer
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INDEX TO EXHIBITS
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<CAPTION>
Exhibit
Number Description
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<S> <C>
99.1 Press Release dated December 30, 1999 announcing the
election of Howard Morgan as Chairman of the Board for
MetaStream.com Corporation and other management changes.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
HOWARD MORGAN NAMED
CHAIRMAN OF THE BOARD OF METASTREAM.COM
MetaCreations Also Announces Other Management Changes
Carpinteria, Calif., December 30, 1999 - MetaCreations Corporation. (Nasdaq:
MCRE) and MetaStream.com Corporation today announced the election of Dr. Howard
Morgan, senior officer and vice-Chairman of the Internet business incubator
idealab!, to the position of Chairman of the Board for MetaCreations' pioneering
Internet subsidiary, MetaStream.com.
Morgan joins the MetaStream.com board with more than 30 years experience in
nurturing high technology entrepreneurs and companies. An active consultant and
speaker on the Internet, information systems and financial areas over the course
of his career, he has worked with nearly all of the major computer companies and
many of the Fortune 100. Morgan currently serves on the Board of Directors of
several Internet companies, including Tickets.com, MyPoints.com and
CarsDirect.com.
"With the incredible growth of e-commerce on the Web, there's a strong industry
need for 3-D visualization solutions to enhance the online shopping experience
for every web user. Because of this, I'm very excited by MetaStream.com's
technology and strategic direction," said Howard Morgan, Chairman of the Board,
MetaStream.com. "Over the past three decades, only those with the most advanced
equipment could take advantage of the introduction of new technologies. What's
so innovative about MetaStream is that it benefits everyone regardless of
connection or processor speed. MetaStream.com is blazing the trail for
integrating revolutionary 3D solutions into every day life. I'm very pleased to
be a part of this new era, and I plan on taking a very active role in making
MetaStream the standard solution for e-commerce visualization."
BACKGROUND ON HOWARD MORGAN
Morgan joined idealab! as a senior officer in 1998, and has served as its
vice-Chairman since January 1999. Morgan was named 1997 Entrepreneur of the Year
in the Kauffman Foundation/ Ernst & Young program.
From 1972 to 1986, Morgan was Professor of Decision Sciences at the Wharton
School, and Professor of Computer Science at the Moore School of the University
of Pennsylvania. He has served as a visiting professor at the Harvard Business
School and the California Institute of Technology. Morgan received his Ph.D. in
operations research from Cornell University, a B.S. in Physics from the City
University of New York, an Honorary M.A. from the University of Pennsylvania.
Morgan has published over 50 articles in the areas of computer graphics, office
automation, decision support and database management.
Morgan was a member of the Board of Directors of MetaCreations and served as
MetaCreations' Chairman from May 1997 to May 1999.
OTHER MANAGEMENT CHANGES
The company also announced that Terance A. Kinninger is resigning as
MetaCreations' Chief Financial Officer. Kinninger stated, "While I am
enthusiastic about the prospects of the new e-commerce focus of the company, I
also believe that the senior financial executive of the Company needs be located
in New York along with the MetaStream initiatives. As I am not willing to
relocate my family to the East Coast, I
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will be accepting another opportunity in Southern California." Kinninger will
continue to work in an advisory role for the Company through a transitional
period until the end of the first quarter of 2000.
Jay Jennings, MetaCreations' Vice President of Finance, will assume the
responsibilities of Chief Financial Officer on an interim basis. Jennings has
been with MetaCreations for 4 years in various financial management roles,
including Worldwide Controller and Vice President of Finance. Prior to joining
MetaCreations, Jennings spent 6 years at Ernst and Young LLP, a global public
accounting firm, most recently as a manager in the Entrepreneurial Services
Group.
ABOUT METASTREAM.COM
MetaStream.com, a joint initiative between MetaCreations Corporation (Nasdaq:
MCRE) and Computer Associates International, Inc. (NYSE: CA), was formed in July
1999 and is centered on providing complete end-to-end solutions for creating and
deploying virtual products for e-commerce. MetaStream.com's primary initiatives
include licensing MetaStream technologies for specific e-commerce visualization
solutions, providing a full range of fee-based professional services for
implementing these 3D solutions and forging technological alliances with leading
interactive agencies and Web content providers. MetaStream.com is 80 percent
owned by MetaCreations and 20 percent by Computer Associates. MetaStream.com is
currently headquartered in Princeton, New Jersey and will soon open offices in
New York City. Additional information about MetaStream.com is available at
http://www.metastream.com.
ABOUT METACREATIONS
MetaCreations Corporation is focused on e-commerce visualization solutions for
the World Wide Web. MetaCreations' strategy is centered on the Company's
MetaStream technology and software tools designed to make the interactive use of
photo-realistic 3D on the Web practical and pervasive. MetaCreations is
headquartered in Santa Barbara County, California and can be reached on the
World Wide Web at http://www.metacreations.com.
# # #
MetaCreations and MetaStream are either registered trademarks or trademarks of
MetaCreations Corporation. Other product and company names herein may be
trademarks of their respective owners.
Press Contacts:
Maria Poveromo
Corporate Communications
(831) 430-4241
[email protected]
Betty Franklin
Investor Relations
(805) 566-6289
[email protected]
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