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New York-based women's network iVillage Inc. has closed its acquisition of rival Women.com and announced the departure of Women.com CEO Marleen McDaniel.

iVillage said McDaniel has left to pursue other interests, but would remain available for a transition period.

The company said three representatives from Hearst Communications who were prior directors of Women.com have joined the iVillage Board of Directors. They are James Asher, Cathleen Black and Al Sikes.

All three hold senior executive posts at The Hearst Corporation.

As part of the acquisition, Hearst Communications other former Women.com stockholders have purchased 9.324 million shares of iVillage stock and warrants to purchase 2.1 million shares for an aggregate purchase price of $20 million.

Hearst Communications invested approximately $19.7 million of the total $20 million invested. Hearst Communications has also committed to purchase from iVillage production and advertising services in a range of approximately $15 million to $21 million over a three-year period.