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Technology Stocks : CMGI What is the latest news on this stock?
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To: Don Jeanblanc who wrote ()9/15/1999 1:43:00 PM
From: ZenWarrior   of 19700
 
Per last quarterly report:
"On May 13, 1999, CMGI completed the sale of its CMG Direct subsidiary to Marketing Services Group, Inc. in exchange for cash of approximately $13.9 million and approximately 2.3 million shares of MSGI stock. Also during May, Yahoo! completed the acquisition of GeoCities, pursuant to which the 8.8 million shares of GeoCities common stock, and options to purchase an additional 1 million GeoCities shares held by CMG@Ventures were converted to Yahoo! stock and options. MSGI and Yahoo! shares received will be accounted for as available-for-sale securities, at market value."

I thought I saw that correctly before! CMG Direct sale will also add to earnings... looks like another $100 Million, or $1/share ($13.9 million cash + [2.3 million x ~38/share on 5/13]). So, w/ ENGA = $7.70/share (assumming $1/share cost basis, and loss of .30 in "operations"). w/out ENGA still = 4.30/share.
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