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

To: Richard Tai who wrote (18223)	8/23/2000 11:01:55 AM
From: stock_bull69	Read Replies (1) \| Respond to of 19700

Just in case anyone missed the news here it is: UPDATE 1-CMGI wins naming rights for Patriots stadium (adds comment, further details) BOSTON, Aug 23 (Reuters) - CMGI Inc. (NASDAQ: CMGI), a direct marketing and investment company that has become one of the chief architects of the Internet, said on Wednesday it won the bidding war to have its named emblazoned across the new $325 million football stadium for the New England Patriots. Under a 15-year agreement, Andover, Mass.-based CMGI will pay the Patriots $76 million during the first 10 years of the contract for the exclusive naming rights of the football stadium. For the remainder of the contract, CMGI will make payments based on CPI adjustments, the company said in a statement. The future home of the Patriots and the New England Revolution professional soccer team will be called "CMGI Field." The stadium, in Foxboro, Mass., is under construction and is expected to open in 2002. "This agreement marks a significant milestone in CMGI's history," Chairman David Wetherell said in a statement. The deal also calls for CMGI's majority-owned companies, which include Internet portal AltaVista, to be the preferred technology partners for the stadium. In addition, CMGI will have promotional and sponsorship rights in and around the new stadium complex, the company said. Robert Kraft, chairman and owner of the Patriots, said in a statement CMGI's bid beat out several national and global companies. Wetherell is among the investors in Kraft's Internet venture PaperExchange.com, an online trading market for the paper industry. CMGI will acquire the naming rights immediately, but will not make its first semi-annual payment to the Patriots until January 2002. Shares of CMGI, which have plummeted amid Wall Street's sour outlook on dot-com companies, closed at 37-12/16 Tuesday on the Nasdaq stock exchange, well off its 52-week high of 163-8/16. Steve