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| June 15, 2004 QVC Leads $7.5 Million Series C Financing for Scene7 Existing investors Moore Capital, David Rubenstein of The Carlyle Group, Halpern Denny & Co., and Xcelera join round; New Directors Named West Chester, PA — June 15, 2004 — QVC, a $5 Billion global leader in electronic retailing and a majority-owned subsidiary of Liberty Media Corporation (NYSE: L; LMC.B), today announced that it led a $7.5 Million Series C financing for Scene7, provider of the leading rich media platform to grow revenues and enhance visual communications while automating media production and delivery. Scene7’s existing major investors, including Moore Capital, David Rubenstein of The Carlyle Group, Halpern Denny & Co. and Xcelera also participated in the round. Proceeds from the round will be used to strengthen Scene7’s market leading position, further scale operations to meet strong demand and pursue strategic opportunities. Scene7 provides the leading rich media platform to grow revenues on the web, in store and via e-mail, by automating the production and delivery of dynamic visual communications – including dynamic images, eCatalogs and dynamic customization. As part of the new investment, Scene7 and QVC will collaborate on several short and long-term initiatives to extend Scene7’s platform for the benefit of both companies, their customers and partners. “We invest in companies that have attained market leadership through superior technology and services, broad customer relationships, strong partner ecosystems and world class management – while also being strategic to our current and future business plans”, said Jeffrey Branman, President of the Interactive Technology Partners investment arm of QVC. “Scene7 clearly meets all our criteria – and we look forward to helping take this company to new heights.” "We are proud to be associated with QVC and Liberty Media, pioneers and industry leaders in electronic retailing, media, communications & entertainment,” said Douglas Mack, CEO of Scene7. “Attracting this highly successful backer validates Scene7’s market leadership and company potential in the rich media space. This relationship will open up tremendous opportunities we could not have easily exploited without this exciting new alliance”. Scene7 is also announcing the addition of Jeffrey Branman and David M. Rubenstein to the company’s board of directors.
Mr. Branman and Mr. Rubenstein join Scene7’s existing directors James Caccavo of Moore Capital, Andrew Wright of Real Networks and Douglas Mack of Scene7. About Scene7 Scene7 provides the leading rich media platform to grow revenues and enhance visual communications via the web, displays and email, while automating media production and delivery. Scene7 media includes dynamic images (dynamic zoom, sizing, art, texturing, spin, templates), eCatalogs, dynamic customization and eVideos. More than 200 leading companies, in industries ranging from retail to hi-tech, have selected Scene7 products, including Macy’s (pending), Blockbuster (pending), Microsoft, Office Depot, Levi Strauss & Co., Kinko’s, La-Z-Boy, and QVC. Scene7 has been selected as a partner of key technology leaders including IBM, Microsoft and Akamai. Scene7, a holding of QVC/Liberty Media, Moore Capital and Rhodes Partners, is based in Novato, California. For more information visit http://www.scene7.com. About QVC QVC, Inc., a $5 billion company, is an e-commerce leader, marketing a wide variety of brand name products in such categories as home furnishings, licensed products, fashion, beauty, electronics and fine jewelry. QVC reaches over 85 million homes in the United States. Other divisions/subsidiaries include QVC.com, Q Direct, Q Records and Video, QVC @, QVC Local, QVC ProductWorks. The QVC Studio Tour is located at the company's world headquarters in West Chester, PA. About Liberty Media Liberty Media Corporation (NYSE: L; LMC.B) is a holding company owning interests in a broad range of electronic retailing, media, communications and entertainment businesses classified in four groups; Interactive, Networks, Tech/Ventures and Corporate. Liberty Media's businesses include some of the world's most recognized and respected brands, including QVC, Encore, STARZ!, Discovery, IAC/InterActiveCorp, and News Corporation. |
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