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Technology Stocks : ZD Inc., Ziff-Davis (ZD)

ZD 38.21

-4.6%

Jan 23 9:30 AM EST

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To: Axxel who wrote (487)	3/16/1999 9:32:00 PM
From: Maverick	Read Replies (1) of 855

Billionaire Microsoft co-founder Paul Allen agreed to buy a $300 million majority share in Go2Net Inc., in a deal that could make Go2Net's Web sites a main Internet destination for many cable-TV users. Go2Net's stock soared by nearly a third on the news, rising $26.38 to $113.38 on the Nasdaq stock market. The Seattle-based company runs a network of Web sites focusing on personal finance, Internet search, commerce and games. Allen's investment firm, Vulcan Ventures, owns stakes in cable-TV companies that provide high-speed Internet access. Allen's Vulcan Ventures recently bought interests in Marcus Cable of Dallas and Charter Communications of St. Louis, making him the world's seventh-biggest cable operator with 2.4 million cable customers. Charter's holdings in 19 states include systems in Watsonville, Capitola and unincorporated parts of Santa Cruz County. Allen's investment gives him a 54 percent interest in Go2Net.

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