Alloy Online Announces Acquisition of 17th Street Productions

Posted on January 12, 2000

Alloy Online, Inc., an Internet destination for teens, announced it has agreed to acquire 17th Street Productions, Inc., a developer and producer of media properties for teens. 17th Street has produced and developed content for a number of popular teen properties, including Roswell High, Real Teens: Diary of a Junior Year, Francine Pascal's Sweet Valley and her current best seller, Fearless.

"We are very excited about the synergies provided by this acquisition, which represents another step towards our long term goal of expanding Alloy's multi-media platform," commented Matt Diamond, CEO and co-founder of Alloy Online. "Through this partnership, we have the ability to pursue opportunities that leverage the strong Gen Y brand properties of both companies and expand our presence in a variety of media. Such initiatives will create new revenue opportunities and help drive new traffic to the Alloy.com Web site."

Leslie Morgenstein, co-president of 17th Street Productions said, "Alloy Online has clearly emerged as an important and credible conduit to the teen community. Joining forces will allow us to provide unparalleled marketing support and distribution for our current and future properties. Together, we launched the Fearless series and were able to reach a much broader audience through Alloy's online and direct marketing properties. This initiative has driven traffic to Alloy's Web site through the development of dynamic and interactive content built around the Fearless characters and series."

Mr. Morgenstein whose responsibilities include operations, finance, and corporate and business development, and Ann Brashares, co-president and Editor-In-Chief, will retain their roles following this acquisition.