OXYGEN GETS $122M FROM LVMH
NEW YORK — LVMH Moet Hennessy Louis Vuitton said Wednesday it would make a $122 million investment in Oxygen Media, a U.S.-based Internet network focused on women.
The investment will be made in conjunction with Europ@web, an investment company controlled by LVMH chairman and chief executive Bernard Arnault. LVMH will receive a minority stake in Oxygen and get a seat on the firm’s board. Other minority investors in Oxygen include Oprah Winfrey’s Harpo Entertainment Group and America Online.
Oxygen, founded in 1998, operates a network of Web sites oriented toward women, including its hub, Oxygen.com; a parenting site called Moms Online; a personal finance site called Ka-Ching.com, and Oprah.com. Oxygen also plans to launch a 24-hour cable network in February.
Arnault created Europ@web in July with an initial capitalization of $500 million. The investment firm holds stakes in more than 25 Internet companies in the U.S., Europe and Latin America, including sports apparel retailer Boo.com, accessories Web site Ashford.com, corporate gift site Camdens.com and art auction database Artprice.com.