NBC Internet Restructures

NBC Internet Inc. unveiled a restructuring and warned of lower-than-expected earnings and sales for the second quarter and the remainder of 2000 because of a soft advertising market from “dot-com” companies. Under the restructuring, all of NBC Internet’s Web sites and products, including Snap.com, Xoom.com and VideoSeeker, will be combined under a single banner, NBCi.com. The site will debut in the fall. The company was expected to post a net loss of 70 cents a share in its second quarter and a full-year net loss of $2.84 a share, according to a consensus of analyst estimates compiled by industry researcher First Call/Thomson Financial. NBC Internet is about 47% owned by NBC, which is wholly owned by General Electric Co.