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Technology Stocks : CMGI What is the latest news on this stock?
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To: Mark Peterson CPA who wrote (8391)5/19/1999 12:35:00 AM
From: PAL  Read Replies (2) of 19700
 
Mark, Lycos reported better than expected earnings and the stock will go up tomorrow. There has been a speculation that eventually CMGI will buy Lycos, but has to wait until July 15 since buying before that date will require a $ 34M patments to Barry Diller. CMGI needs Lycos badly in order to become a force as one of the major portal. In addition, if CMGI remains at present format, it might be classified as a mutual fund.

Looking at TIME magazine February 15, 1999 issue with the three musketeers on the cover: Rubin, Greenspan and Summers, I find the Star Wars analogy amongst the portals: "The gravitational pull of a handful of big Web 'portals' is reshaping cyberspace:

1. AOL& NETSCAPE - 48.5M served
2. T HOME&EXCITE - 16.6M served
3. DISNEY&INFOSEEK - 26.1M served
4. MICROSOFT - 27.5M served
5. YAHOO&GEOCITIES - 46.4M served
6. LYCOS - 26.4M served,
plus descriptions of strengths and weaknesses of each portal.

CMGI has has increased the number of authorized shares which among others will be used for acquisition. Thus CMGI can exchange shares of Lycos with its own share, tax free exchange, and no cash money coming out. We have to wait until mid-July to see if this is indeed the case.

Best regards, and profitable investing in CMGI and MSGI and AOL.

Paul
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