CMGI INFO.. awesome
During the presentation, Wetherell focused on the company's
brightest prospects. Most compelling of the two dozen
companies CMGI supports or owns is a proposed television
network, which will be headed by Neil Braun, former head of
NBC-TV. Magnitude Network, an online radio company
modeled after broadcast.com (BCST:Nasdaq), will be folded
into this television broadcast company.
Some of the companies expected to go for a public offering in
the next 24 months, says Wetherell, include Silknet,
Critical Path, Chemdex, Raging Bull, and Ancestry.com,
to name a few. CMGI owns a 50% stake in Raging Bull and a
39% stake in Ancestry.com, 7% of Critical Path, 16% of
Chemdex, and 34% of Silknet.
The packed house let out an audible gasp when shown the
company's return on a total of $39 million in what is
essentially venture capital investments: $1.9 billion. "It's ...
phenomenal," said one money manager in attendance. "I'm
finally thinking that after watching this stock for 18 months
from the sidelines that it's time to get in -- this company's got
legs." CMGI closed down 6 5/16 at 111 3/16 after rising as
high as 119 1/2.
Look for more news from Lycos when it presents at Robbie
Stephens Thursday afternoon. |
