"In Featurecast, we've found the ideal partner to help us bring Teen Magazine to the World Wide Web," said Justin McCormack, President of Petersen Enterprises. "Their technical resources, unique distribution capabilities and respect for the Teen brand, coupled with our own staff of teen experts, will surely make Teenmag.com an instant on-line hit."

"The demographics behind Teen Magazine are extraordinary," said Scott Kramer, President and CEO of FeatureCast, Inc. "Our newest online acquisition helps extend our reach among this highly desirable audience. FeatureCast's mission is to build enormous properties around defined audience segments from teenagers (TeenMag), to crime prevention and family safety (America's Most Wanted Online), and even entertainment and sports content. As FeatureCast continues to build these unique communities, we look forward to continuing our position as the leader in online syndication."

FeatureCast's syndication network covers nearly every substantial market in the United States and Canada, including New York, Los Angeles, Chicago, Houston, and the Bay Area, as well as Toronto and the leading Canadian markets. In addition to Nederlander and idealab!, FeatureCast investors include Broderbund, Digital Media Capital LLC, Labrador Ventures and Logitech founder Pierluigi Zappacosta.

More than 25 new companies, such as FeatureCast, have emerged from idealab!, the Internet "start-up factory" in Pasadena, including CitySearch, People Link, GoTo.com, Tickets.com and eToys. We consider FeatureCast, Inc. to be one of our rising stars, says Bill Gross, idealab! founder and chairman of FeatureCast, Inc. Idealab! companies have been carving out mindshare among their online competitors, and now we are seeing them build value in attracting partners from other industries.

Teen magazine is one of the top magazines for the teen audience, with a readership of over 10 million, and is one of teenage America’s most recognized brand names. The magazine is part of The Petersen Companies, Inc., a leading multimedia marketing solutions and brand development company, with a diverse portfolio of more than 116 special-interest magazines, television programs, licensing, trade shows, consumer events, databases, custom publishing and retail promotions. Petersen publications deliver nearly 77 million readers, including nearly 60 million adults and over 17 million teens.