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Prodigy also recently purchased Cable & Wireless USA's consumer Internet service.
But a person familiar with the deal said the value was nearly $200 million, including the value of real estate leases on buildings Prodigy occupies and its communications network.
PRODIGY provides members with on-demand access to hundreds of features, including news, reference materials, education, entertainment, travel, E-mail, brokerage, banking, shopping, bulletin boards and the Internet.
This data illustrates where an audience is concentrated and provides insight into visitors' viewing habits to give Prodigy MSN better intelligence on how to best deliver and monetize the audio and video it delivers.
Among its investment features, the PRODIGY service provides 15-minute-delay stock quotes, customized Quote Tracks, key market information updated throughout the day, and mutual fund performance information.
Because the tendered shares represent more than 90% of the Prodigy Class A shares, SBC will be able to cause a subsidiary to merge into Prodigy without any further action by Prodigy stockholders.
Current PRODIGY service members can get the new software free by downloading it from the PRODIGY service, asking Prodigy to mail them a copy or by bringing their PRODIGY service membership card to a Sears, CompUSA, Software Etc.
Prodigy's special committee consisting of three independent board members has determined that the merger agreement is fair to Prodigy's stockholders, and based on that determination, Prodigy will recommend that stockholders accept SBC's amended tender offer and approve the merger.
We look forward to working closely with Intel and General Instrument to maximize cable's online potential with the PRODIGY service today and with the development of new interactive services in the future," said Mr.
The status of discussions between Prodigy and SBC are further discussed in Prodigy's 14D-9 filing with the SEC on October 16, 2001, as well as in SBC's Amendment No.
These developments position Prodigy to deliver interactive content through television in the near future.
Prodigy also increased its net revenue guidance from $355 million to $365 million reported in the second quarter to $360 million to $370 million.