By Felicity Ussher, 26 June 1998 13:09
NEWS Walt Disney has bought a 43 percent stake in Infoseek, one of the leading online search engines. In exchange for 25.8 million shares, Disney will hand over its stake in Web design company, Starwave, plus $70m (£43.8m) in cash. The deal gives Disney a minority place on Infoseek's board, but an additional purchase of stock warrants, worth $139m (£86.9m), could give it a majority stake at a later date. The entertainment giant aims to promote Infoseek at Disney World, to persuade Web users to make it their home page of choice. The combined service will be launched later this year.
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