FORT WORTH, Texas and REDMOND, Wash., July 6 -- RadioShack Corporation (NYSE: RSH) reported today that it has agreed to purchase Microsoft Corp.`s (Nasdaq: MSFT) 25% preferred minority interest in RadioShack.com LLC for $88 million in cash. RadioShack Corporation now owns 100% of RadioShack.com LLC. Microsoft invested in RadioShack.com LLC in November 1999.
"Microsoft and RadioShack have had a long and successful relationship that is still going strong," said Yusef Mehdi, MSN & Personal Services Group. "We look forward to continuing our work with RadioShack on strategic projects that deliver the great services of MSN to RadioShack customers."
"Microsoft and RadioShack continue a shared a vision of helping people integrate technology into their homes," said Henry Chiarelli, senior divisional vice president -- emerging channels for RadioShack. "By demonstrating end-to-end connectivity solutions at the Microsoft Internet Center @ RadioShack and utilizing Microsoft technology to power RadioShack.com, together we can help make the everyday Web a reality."
RadioShack Corporation is the nation`s largest and most trusted consumer- electronics retailer, and offers both on- and off-line shopping capabilities. With more than 7,100 stores and dealers, RadioShack sells more wireless telephones, telecommunications products, electronics parts, and accessories than any other retailer. It is estimated that 94 percent of all Americans live or work within five minutes of a RadioShack store or dealer. For more information visit the RadioShack corporate Web site at http://www.radioshackcorporation.com.
Senior Director - Investor Relations
Senior Vice President, Public Relations and Corporate Communications