The following excerpt is from Reuters website of May 14, 2012. Shares fell 18% on the news that NBC’s Who Do You Think You Are? is being cancelled for a fourth season.
(Reuters) – Ancestry.com (ACOM.O) shares fell 18 percent on Monday after U.S. network NBC decided not to renew the company’s TV show for a fourth season.
Ancestry.com sponsors the American version of the popular British series Who Do You Think You Are.
The show, based on the idea of tracing celebrities’ family history through Ancestry.com’s databases, has been considered a major driver of new subscriber additions for the website.
THE FOLLOWING COMMENTS WERE RELEASED BY ANCESTRY.COM FOLLOWING CANCELLATION:
PROVO, Utah, May 13, 2012 (GlobeNewswire via COMTEX) — Ancestry.com Inc. ACOM -12.54% , the world’s largest online family history resource, today commented on NBC’s decision not to renew the Who Do You Think You Are? television series for a fourth season.
“We want to thank NBC for their support of this terrific series, which over the last three years has inspired many viewers to follow their passion to learn more about who they are and where they come from,” said Tim Sullivan, President and CEO of Ancestry.com. “We have a great partnership with the show’s producers, Is or Isn’t Entertainment and Shed Media, and we look forward to exploring other avenues of distribution.”
Ancestry.com Inc. ACOM -12.54% is the world’s largest online family history resource, with 1.9 million paying subscribers. More than 10 billion records have been added to the site in the past 15 years. Ancestry users have created more than 34 million family trees containing approximately 4 billion profiles. In addition to its flagship site, Ancestry.com offers several localized Web sites designed to empower people to discover, preserve and share their family history.