Tom Waldrop, Intel spokesperson, told Newsbytes the new Web site will "help to accelerate the bringing of compelling content to the connected PC." He said the new site will "stimulate development of compelling consumer content" to liven up what he called the connected multimedia personal computer (PC). "What we want to do here is showcase new technologies," he said, "for example, new Internet technologies that can be used on Web sites."

Waldrop said both Intel and C/NET will "work together" on content for the Web site, but C/NET holds final editorial control over the content. He said Intel might have input on certain examples that could be cited in articles at the site, but "we will work together on what kind of content could be at the site." A start date for the site has not yet been determined, officials said.

Intel also has input at other Web sites, Waldrop said. Those unnamed sites could have a co-brand with Intel, or could have received a minority investment from the microprocessor manufacturer, he said. "But in no case are we going into the content business," he added.

Waldrop said he felt it would be inappropriate to comment on his company's investment in C/NET. But papers it filed with the Securities and Exchange Commission (SEC) showed Intel's purchase of C/NET stock, in connection with C/NET's upcoming initial public offering (IPO), which Newsbytes has reported in the past. A C/NET spokesperson could not comment to Newsbytes on the story because the company is in a SEC-mandated "quiet period" due to its IPO.

C/NET hopes to raise at least $28 million with the IPO. Recently, the company said it lost $3.7 million on $1.7 million in revenues during its first fiscal quarter.

In the past few months, C/NET has announced a major initiative in both TV and Web programming. It said it would bring a total of three new TV shows to the cable TV and syndication market, with each having a complimentary Web site. The company also re-launched its "Search.com" Web site, which is an aggregate of Web search sites.

(Bob Woods/19960620/Press Contacts: Tom Waldrop, Intel, 408-765-8478; Patrick Toland, C/NET, 415-395-7800; Mike Curtis, 212-761-5381)