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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: mike machi who wrote (10227)	6/16/1999 9:15:00 AM
From: Brennan Wilkie	Read Replies (1) \| Respond to of 19700

CMGI just got better: old news. MGI to offer holders shrs in cos it takes public NEW YORK, June 15 (Reuters) - Internet business developer CMGI Inc.<CMGI.O> said Tuesday it planned to offer its stockholders shares in the companies it takes public. The program will begin with the initial public offering of CMGI's Engage Technologies subsidiary, the Andover, Mass., venture capital fund said in a statement. Individual CMGI shareholders who own at least 100 shares of CMGI Common Stock at the close of business on June 15, and who meet certain eligibility requirements, will be offered Engage stock at the initial public offering price. CMGI funds Web ventures at various stages of growth. It also holds stakes in more than 30 Internet companies. Analysts have said the distribution program gives a kind of dividend to CMGI shareholders - providing hard-to-come-by stock in potentially hot Web companies at offering prices. CMGI, which is often called an Internet verson of Warren Buffett's investment vehicle, Berkshire Hathaway Inc., said it expected Engage will reserve a limited number of shares of its initial public offering for qualified CMGI shareholders at the offering price. CMGI intends to institute similar directed share programs for each of its majority-owned operating companies that undertakes an initial public offering, the company said in a statement. 10:54 06-15-99 Copyright 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.