The Knot, Inc. (NASDAQ: KNOT), the premier media company devoted to
weddings, nesting and babies, today announced that it had received
stockholder approval to change the company’s name to XO Group Inc. The
company also announced today that its common stock listing is pending
transfer to the New York Stock Exchange (NYSE) from the Nasdaq Stock
Market.
The company’s common stock has been authorized for listing and is
scheduled to begin trading on the NYSE on June 28, 2011, under the new
trading symbol XOXO. At the close of business on the preceding day, the
company will legally change its name to XO Group Inc. The last trading
day on Nasdaq under the name The Knot, Inc. and the symbol Knot is
expected to be June 27.
Chief Executive Officer David Liu said, "Our new company name – XO Group
Inc. – will be the perfect umbrella for all of our brands in the
wedding, nesting and baby lifestages served by our media, products and
services. We are especially excited to be introducing our new name at
the same time as we list our shares on the world’s largest and most
renowned stock exchange under our new symbol XOXO.”
"We are delighted that The Knot, soon to be XO Group, has chosen to list
on the New York Stock Exchange,” said Duncan L. Niederauer, CEO, NYSE
Euronext. "The Knot recognized early on the future of Internet
technology and today is one of the true innovators in the wedding and
lifestyle space. We look forward to a successful partnership with the
company and its stockholders.”
About The Knot, Inc.
The Knot, Inc. (NASDAQ: KNOT; www.theknotinc.com),
is the premier media company devoted to weddings, pregnancy, and
everything in between, providing young women with the trusted
information, products and advice they need to guide them through the
most transformative events of their lives. Our family of premium brands
began with the industry’s #1 wedding brand, The Knot, and has grown to
include WeddingChannel.com, The Nest and The Bump. Our groundbreaking
community platforms and incomparable content have ignited passionate
communities across the country. The Knot, Inc. is recognized by the
industry for being innovative in all media -- from the web to social
media and mobile, to magazines and books, television and video. For our
advertisers and partners, The Knot, Inc. offers the consummate
opportunity to connect with our devoted communities as they make the
most important decisions of their lives. Founded in 1996, The Knot, Inc.
is made up of four major revenue categories: online sponsorship and
advertising, registry services, merchandise and publishing. The company
is headquartered in New York City.
This release may contain projections or other forward-looking statements
regarding future events or our future financial performance. These
statements are only predictions and reflect our current beliefs and
expectations. Actual events or results may differ materially from those
contained in the projections or forward-looking statements. It is
routine for internal projections and expectations to change as the
quarter progresses, and therefore it should be clearly understood that
the internal projections and beliefs upon which we base our expectations
may change prior to the end of the quarter. Although these expectations
may change, we will not necessarily inform you if they do. Our policy is
to provide expectations not more than once per quarter, and not to
update that information until the next quarter. Some of the factors that
could cause actual results to differ materially from the forward-looking
statements contained herein include, without limitation, (i) our online
wedding-related and other websites may fail to generate sufficient
revenue to survive over the long term, (ii) our history of losses, (iii)
inability to adjust spending quickly enough to offset any unexpected
revenue shortfall, (iv) delays or cancellations in spending by our
advertisers and sponsors, (v) the significant fluctuation to which our
quarterly revenue and operating results are subject, (vi) the
seasonality of the wedding industry, (vii) our expectation of a decline
in WeddingChannel.com membership and traffic to the WeddingChannel.com
online shop as a result of the termination of the old Macy’s registry
services agreement, (viii) the dependence of the WeddingChannel.com
registry services business on third parties, and (ix) other factors
detailed in documents we file from time to time with the Securities and
Exchange Commission. Forward-looking statements in this release are made
pursuant to the safe harbor provisions contained in the Private
Securities Litigation Reform Act of 1995.
