RadioShack Purchases Microsoft`s Minority Interest in RadioShack.com
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."
About RadioShack
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.
CONTACT:
James Grant
Senior Director - Investor Relations
817-415-7338
investor.relations@radioshack.com
Laura
Moore
Senior Vice President, Public Relations and Corporate
Communications
817-415-3300
media.relations@radioshack.com
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