The Walt Disney Company expanded its foothold in the Internet this week when it exercised its option to buy out partner Paul Allen's interest in Internet content provider Starwave, in Seattle, CEO Michael Eisner announced.
The purchase price was not released. The entertainment giant made its first investment in Starwave in April, 1997, using it as part of a joint venture to produce the ABCNews.com and ESPN SportsZone Web sites.
Starwave supports several other entertainment and sports sites, including Web sites for the NFL, NBA, WNBA, and Outside Magazine. Starwave and the joint ventures will now become part of Disney's Buena Vista Internet Group, which runs Web sites for Disney and subsidiary ABC Television. Allen, a technology investor, is the co-founder of Microsoft.
The Disney Co., in Burbank, California, can be reached at http://www.disney.com/.