WESTLAKE VILLAGE, Calif., Sept. 18, 2002 (PRIMEZONE) -- United Online, Inc. (Nasdaq:UNTD), a leading provider of value-priced Internet access through its NetZero and Juno Internet services, today confirmed that it has entered into an asset purchase agreement to acquire the assets of BlueLight.com's value-priced Internet access and email service. BlueLight.com is a wholly owned subsidiary of Kmart Corporation (NYSE:KM). The terms of the proposed transaction have not been disclosed.
The sale of the assets of the BlueLight Unlimited Internet Service to a wholly owned subsidiary of United Online will be subject to a competitive bidding process. It is anticipated that an auction will be held on October 7, 2002. The closing of the transaction is also subject to a number of conditions, including approval of the transaction by the bankruptcy court. No other details are available at this time. There is no assurance that United Online will be the successful bidder, that the sale will be approved by the bankruptcy court or that other conditions to closing will be satisfied.
If United Online is the successful bidder, the companies intend to ensure that there will be no lapse in service for BlueLight's subscribers and that there will be no need to change email addresses.
About United Online
United Online, Inc. (Nasdaq:UNTD) is a leading Internet service provider that commenced operations in September 2001 with the merger of NetZero and Juno Online Services. The company offers free and value-priced Internet access through its NetZero and Juno Internet services in more than 5,000 cities across the United States and in Canada. The company also offers high-speed Internet access in select locations in the United States. United Online is headquartered in Westlake Village, Calif., with offices in New York City and Hyderabad, India. For more information about United Online and its Internet access services, please visit www.untd.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties include that the auction and bidding process will be completed within the time frames anticipated and that the sale to United Online will be consummated.