Charles Schwab & Co., Inc.

Internet Daily for Friday, May 18, 2001
by Frank Barnako CBS MarketWatch.com

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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.

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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.

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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.

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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.

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