JuniorNet
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| Industry | Internet & communications |
|---|---|
| Founded | 1996 |
| Headquarters | Boston, Massachusetts, United States |
| Products | online services |
| Website | juniornet.com at the Wayback Machine (archived 23 July 2010) |
JuniorNet was a commercial online service provider in the United States which provided content for children.
History
[edit]JuniorNet was founded in 1996 by Alan Rothenberg, a serial entrepreneur who previously created KinderActive, a children's educational CD-ROM producer. He raised $2 million from venture capitalists by spring 1997, and raised another $70 million with Lehman Brothers by April 1998.[1]
In April 1999, RCN acquired a 47.5% stake in JuniorNet for $47 million. As part of the deal, JuniorNet bought Lancit Media, producer of The Puzzle Place and Reading Rainbow, from RCN for $22 million.[2][3] RCN intended to integrate content from Lancit into JuniorNet as a broadband service, and offer JuniorNet as an add-on package to their cable and internet offerings.[4]
JuniorNet rejected even limited e-commerce and advertising, instead relying exclusively on its $9.95 per month subscription fee as a revenue stream.[5][6]
In June 2000, JuniorNet formed partnerships with South Carolina Educational Communications, Maryland Public Broadcasting Foundation, and Nebraskans for Public Television. The public television stations received equity stakes in JuniorNet and would receive commissions for new subscriptions generated through marketing by the stations. The stations could also offer cobranded versions of JuniorNet. Additionally, JuniorNet's subsidiary Lancit Media would produce content for the stations.[7][8][9]
By December 2000, JuniorNet had laid off about a third of its staff of 120, bringing headcount to 80.[10][11] Further layoffs occurred in February 2001.[11]
In 2001, JuniorNet ceased operations.[12] In the foreclosure process, JuniorNet was transferred to J2 Interactive, in which RCN would hold a 23.5% stake. Additionally, RCN regained full ownership of Lancit, which then became RCN Entertainment.[13]
In 2004, Encore published a CD-ROM including games from the JuniorNet service, entitled "Elementary Advantage 2004: JuniorNet Greatest Hits Vol. I".[14][15]
Content partners
[edit] |
JuniorNet sourced its content from some of the biggest children's content providers at the time.
- Bear in the Big Blue House from The Jim Henson Company
- Zillions from Consumer Reports parent Consumers Union
- Ranger Rick from the National Wildlife Federation
- Sports Illustrated for Kids from Sports Illustrated parent Time Inc., a unit of Time Warner
- Highlights for Children
- Weekly Reader
References
[edit]- ^ Rubin, James Peter (1999-10-25). "Start-Up Junkies". The Wall Street Journal. Retrieved 2019-10-07.
- ^ "COMPANY NEWS; RCN TAKES 47.5% STAKE IN JUNIORNET FOR $47 MILLION". The New York Times. Bridge News. 1999-04-29. Retrieved 2019-10-07.
- ^ "RCN buys 47.5 percent stake in JuniorNet for $47M". Boston Business Journal. 1999-04-28. Retrieved 2019-10-07.
- ^ "Lancit and JuniorNet merge in an early-bird convergence effort". KidScreen. 1999-06-01. Retrieved 2019-10-07.
- ^ McKay, Niall (1999-06-07). "Selling (Carefully) to Kids". Wired. Retrieved 2019-10-07.
- ^ Broersma, Matt (1999-06-09). "Kids and ads: Do they mix?". ZDNet. Retrieved 2019-10-07.
- ^ Layne, Anni (2000-10-31). "Big Bird Becomes a Capitalist". Fast Company. Retrieved 2019-10-07.
- ^ Folkenflik, David (2000-06-29). "MPT signs deal with for-profit online service". The Baltimore Sun. Retrieved 2019-10-07.
- ^ Bedford, Karen Everhart (2000-07-17). "Web venture raises revenues, questions". Current. Archived from the original on 2013-11-25. Retrieved 2019-10-07 – via Internet Archive.
- ^ Sweeney, Phil (2000-12-11). "Local layoffs add to list of Internet staff casualties". Boston Business Journal. Retrieved 2019-10-07.
- ^ a b "JUNIORNET: Lays-Off Staffers & Seeks Investor". ABI World. 2001-02-28. Retrieved 2019-10-07 – via Troubled Company Reporter Vol. 5, No. 43 (2001-03-02).
- ^ RCN Corporation (2001-09-30). "Form 10-Q Quarterly Report Pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934". EDGAR. SEC. Retrieved 2019-10-07.
Due to the fact that JuniorNet is no longer in operations, during the second quarter of 2001, the Company recognized the gain of approximately $7,300 previously deferred on the sale of Lancit to JuniorNet and included this amount in Equity in the loss of unconsolidated entities.
- ^ RCN Corporation (2004). "Form 10-K Annual Report Pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2003". EDGAR. SEC. Retrieved 2019-10-07.
In 1999, the Company acquired a 47.5% stake in JuniorNet for approximately $47,000 in cash. Concurrent with that transaction, JuniorNet purchased the Company's Lancit Media subsidiary for approximately $25,000[,000] in cash. In 2000, the Company wrote down approximately $24,400[,000], which represented the Company's full investment in JuniorNet. During 2001, the Company made secured loans to JuniorNet. Subsequently, the assets of JuniorNet were foreclosed upon by the secured creditor group, which included RCN. The secured creditor group sold the assets and intellectual property relating to the on-line business of JuniorNet to J2 Interactive, LLC ("J2") for cash proceeds and 30.6% of J2's initial equity. The Company owns 23.5% of the equity in J2. Additionally, in the foreclosure, RCN received 100% of the assets of JuniorNet's subsidiary Lancit. Those assets were used to start RCN's wholly owned subsidiary, RCN Entertainment. RCN Entertainment produces children's/family programming.
- ^ "How to determine application compatibility with Windows Server 2003 Service Pack 2". Microsoft Support. Microsoft. 2018-04-20. Retrieved 2019-10-07.
- ^ "Video game:Elementary Advantage 2004: JuniorNet Greatest Hits Vol. I". Google Arts & Culture. The Strong National Museum of Play. Retrieved 2019-10-07.