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Strategies & Market Trends : Keep Your Eye On The Ball - Watch List
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To: TFF who wrote ()1/20/1999 10:27:00 PM
From: agent99  Read Replies (1) of 2802
 
Lycos In Talks With Potential Partners

Wednesday January 20 10:06 PM ET

By Nicole Volpe

NEW YORK (Reuters) - Amid a wave of consolidations sweeping the Internet media business, Internet media company Lycos Inc. (Nasdaq:LCOS - news) said Wednesday it was in talks with potential partners, but declined to comment on speculation that the partners included German media company Bertelsmann.

''Our executives have been saying we are in discussions with potential partners,'' said Lycos spokeswoman Michele Perry. ''We would consider a potential agreement.''

Lycos is seeking a media or telecommunications company to become a strategic partner by taking up to a 20 percent stake, the Financial Times said it will report in its Thursday edition. Lycos' current market capitalization is about $4.5 billion, according to Nasdaq.

Lycos and Bertelsmann are already involved in a joint venture, Lycos Bertelsmann Europa, an advertising-financed company which was launched in May 1997 and has operations in 10 European companies.

Asked about speculation that Bertelsmann could take as much as a $1 billion stake in Lycos, Liz Young, a Bertelsmann spokeswoman in New York, said: ''No one has told me one thing about that, and I think I would have heard that.''

Others also rumored to have discussed a partnership with Lycos include U.S. software group Microsoft Corp (Nasdaq:MSFT - news) . Microsoft could not be immediately reached for comment.
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