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Technology Stocks : MPPP - MP3.com -- Ignore unavailable to you. Want to Upgrade?

To: Urlman who wrote (536)	8/6/1999 5:40:00 AM
From: stockman_scott	Respond to of 1116

**FYI...Lycos teams up with Internet Music Distribution, Inc.... <<WALTHAM, Mass., Aug 6 (Reuters) - The popular Internet service Lycos Inc Friday said it purchased Internet Music Distribution Inc, which makes an audio player for people to listen to music downloaded from the Internet. Lycos said Internet Music Distribution makes the Sonique player, which supports the MP3audio format capable of playing near CD-quality music as well as other compression technologies that enable music to be distributed online. Sonique is one of the most popular audio players available and can be downloaded for free from a number of sites. Lycos paid for the acquisition with 1.1 million of its shares, which based on Lycos' closing price Thursday of $35.31 per share, values the deal at about $38.8 million. Terms also include additional considerations based on the future success of the Sonique player. The acquisition is designed to expand Lycos' music offerings and make it more of a one-stop destination where people can go both to find music online and listen to it. ''The acquisition is an exciting move for us as we approach our goal of becoming the premier multimedia company,'' Lycos President Bob Davis said in a statement. ''With the acquisition...we will strengthen our leadership position by offering the best the Web has to offer in music and entertainment content.'' Lycos has been one of the most aggressive Internet portals in connecting users to online music, and last January teamed up with a Norwegian company to provide links to hundreds of thousands of songs online. Since MP3 and other compression technologies have enabled everyone from garage bands to top artists to post their work on the Internet, music has become one of the most popular features online. Lycos often jokes that MP3 is the most common keyword search on its site, after sex.>>