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Article: Polo Ralph Lauren Acquires Full Ownership of Polo.com.
- Article from:
- Business Wire
- Article date:
- March 29, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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$175 Million Cash Transaction to Acquire Remaining 50% of Equity in Online Business
NEW YORK -- Polo Ralph Lauren Corporation (NYSE: RL) today announced that it has bought out the 50% ownership interest of Ralph Lauren Media, LLC held by NBC-Lauren Media Holdings, Inc. (a subsidiary wholly owned by NBC Universal) and ValueVision Media, Inc. giving Polo full ownership of the Polo.com operation. The acquisition is a cash transaction of $175 million.
"Over the past seven years, we have enjoyed a strong partnership with both NBC and ValueVision which enabled us to expand the world of Ralph Lauren online. Together we have built a powerful presence that ...