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Internet Daily for Friday, May 18, 2001 by Frank Barnako CBS MarketWatch.com ----------------------------------------------------------------- Amazon goes to the movies Years after acquiring one of the Internet's richest entertainment database sites, Amazon.com has begun promoting movies. A new tab on the Amazon site called In Theaters takes visitors to a page promoting three new releases, including "Pearl Harbor," the much-touted Memorial Day release from Walt Disney Co.'s Touchstone Pictures. Movie trailers are available. Amazon.com also is offering a customized e-mail alerting registrants to what films are playing, and when, in their zip-code each weekend. The company's Internet Movie Database is linked to the promotion page, providing additional detailed information and reviews. The first In Theaters advertiser is Disney Co.'s Buena Vista Pictures Marketing. This is believed to be the initial instance of Amazon.com taking money for running advertisements. Amazon.com says its existing database of customers' purchases and interests will also prove to be a valuable resource for films. Just as the site does with books and music, it intends to make recommendations of films and alert users to similar films that may be of interest. ----------------------------------------------------------------- KB Toys in new EToys.com pact KB Toys said Friday it has bid approximately $3.35 million to buy intellectual property assets and services of bankrupt online retailer EToys. The deal covers trade names, logos, URLs and trademarks. EToys also has agreed to contact customers and tell them they can continue to make purchases online via the KBkids.com Web site. Last month, KB Toys bought inventory assets of EToys. Besides its online presence, KB Toys operates more than 1,300 stores in shopping malls. ----------------------------------------------------------------- Munder's Net fund said to reopen Munder Capital Management, a unit of Comerica Inc., is reported to be planning to reopen its NetNet Fund after closing it a year ago. The fund, with $2.4 billion in assets, is down 26% in the year to date, after losing 54% last year, according to Morningstar. The fund's board approved the reopening to new investments this week, according to The Wall Street Journal. Fund manager Paul Cook reports that investor redemptions are slowing and that some existing owners are making new investments. "Almost all the stocks in the technology universe are easier to buy these days," he told the Journal. ----------------------------------------------------------------- MusicNet shown to Congress RealNetworks briefly showed members of the House Internet and Intellectual Property Subcommittee an initial version of MusicNet, a digital subscription service that it co-owns with AOL Time Warner, Bertelsmann and EMI Group. As part of testimony on copyright and publishers' rights as they are affected by music distribution on the Internet, RealNetworks Chairman Rob Glaser accessed the service. Operating in a manner similar to Napster, keyword searches returned music files, which were then downloaded. Glaser said users most likely will subscribe on a monthly basis, securing a renewable license to use the music for an established period of time. During the hearing, witnesses -- including Vivendi Universal's Edgar Bronfman as well as Glaser -- were advised to settle licensing and royalty payment issues behind the scenes. "I'm suggesting to you that you continue your negotiations, in a woodshed or around a dining room table," said Rep. Howard Coble, R-N.C., the panel's chairman, according to the Hollywood Reporter. In what's been a particularly sticky issue for the entertainment industry, music labels have been unable to reach agreement on additional compensation due artists and publishers for digital distribution. ----------------------------------------------------------------- For late-breaking market news you can't afford to miss, go to http://CBS.MarketWatch.com/ ################################################################# Log in using the links below to: Access your account: https://investing.schwab.com/trading/start?SANC=CCBodyi&NeedCASelValue=Y View your Email Alert customization options: https://investing.schwab.com/trading/start?SANC=EAMyAlerts Perform research or request a market quote: https://investing.schwab.com/trading/start?SANC=Quotes Place a trade order: https://investing.schwab.com/trading/start?SANC=TradeStock To visit Schwab's home page, use this link: http://www.schwab.com/ ----------------------------------------------------------------- To unsubscribe or modify your Email Alert customization options, log in using the link below or copy and paste it into your browser's address window: https://investing.schwab.com/trading/start?SANC=EAMyAlerts Now you can receive graphics Email Alerts in HTML format, using helpful, full-color graphics and active Web links that connect you directly to information you want. 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