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Mickey 'Go's with Infoseek
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September 21, 1998: 8:56 a.m. ET
Disney, Infoseek set to launch Go Network to take on rival Web portals
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NEW YORK (CNNfn) - Search-engine turned Web portal company Infoseek Corp. is teaming with deep pocket investor Walt Disney Co. to develop a new Internet service that will compete with Yahoo!, Excite and other high-traffic rivals.
The two companies announced Monday they are poised to launch and market "Go Network" in a preview version later this year.
The Web portal will combine search functions with communications and electronic commerce. At launch, it will have the third largest unduplicated reach on the Internet and will rank ahead of Microsoft and Netscape and behind only Yahoo! and America Online, the companies said.
Internet users will be able to search the Web using Infoseek's search and directory technology. The companies said Go Network will provide additional access to one of the largest selections of Internet branded content, addressing all users from children to businesses.
"The Internet is unique in its ability to not just inform and entertain, but to empower individuals to make their lives easier. The Go Network brand will stand for removing barriers from people's lives and fulfilling the true promise of the Internet," Infoseek President and Chief Executive Harry Motro said. "Go Network will launch with one of the largest and broadest consumer bases on the Internet. We intend to exceed our customers' expectations and in doing so, we expect our user base to expand rapidly."
According to published reports, the "Go" name will replace the Infoseek brand as the portal service. Thereafter, Infoseek will refer solely to a search and directory offering. Insiders close to the deal reportedly said it also is likely that Infoseek's corporate name eventually will be changed to Go Network, Inc.
As part of its efforts to expand into cyberspace, Disney purchased a 43 percent stake in Infoseek for $70 million in June. The company then turned its Infoseek ownership over to Starwave Corp., its own Internet company in Bellevue, Wash.
"Go Network is a cutting-edge initiative that fits perfectly with our company's overall mission," said Michael D. Eisner, chairman and CEO of The Walt Disney Company. "And that mission is to provide quality entertainment and information to audiences at a wide range of established and emerging ventures. The Internet is providing a dynamic new way to engage our audiences in the comfort of their homes. With Go Network, we are making clear that we intend to seize this opportunity and be just a click away from consumers around the globe."
The Disney-Infoseek Internet site, reached at Web site www.go.com, is part of Infoseek's attempt to shed its image as a strictly search engine site and catch up with larger portal rivals, Yahoo! Inc. (YHOO), America Online (AOL), Lycos (LCOS), Excite (XCITE) and Microsoft Corp. (MSFT).
Disney shares (DIS) closed down 1/8 at 25-9/16 on the New York Stock Exchange.
Shares of Sunnyvale, Calif.-based Infoseek (SEEK) closed unchanged Friday at 20-1/2 on the Nasdaq. 
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