Seven has implemented the deal through its Internet company i7 and will invest $324,000 in Demand
Ventures Ltd. The terms of the agreement also allow for Seven to appoint a member to
the company's board of
directors.
i7 plans to establish knowzone.com.au, a Knowledge Exchange web site
in Australia in the first half of 2000, while also participating through its
interest in Demand Ventures in other sites in other parts of the world.
According to i7's managing director, Mr Andrew Cohen, "The venture in Australia will provide a
valuable resource for the many knowledge owners for whom the formal
publishing and distribution channels are not appropriate".
The deal follows other recent i7 alliances with Channel E, Wemyss and DigitalOne in an effort to catch up with TV-Web hybrid leader NineMSN.
