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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (34349)	10/8/1998 8:32:00 PM
From: Night Writer	Respond to of 97611

This is not an effervescent little bit of news. NW by Frank Barnako CBS MarketWatch Three Ziff magazines to be spiked Ziff-Davis Inc. said Thursday it will reduce staff companywide by about 10 percent. The media company, which relies heavily on technology companies for advertising, said it anticipates profit-margin pressures on equipment manufacturers, product delays, lower demand in Asia and a focus on Y2K transition. Its chief financial officer, Tim O'Brien, said the company is taking "pre-emptive measures," given its forecast that fourth-quarter results in the publications business will miss previous expectations. Ziff, the No. 2 computer-magazine publisher (trailing only the privately held International Data Group), will cease publication of three magazines: Windows Pro, Internet Business and Equip. The company said the restructuring will include a new stock issue for its Internet business, ZDNet. "To be successful in this new economy, media and marketing companies must serve a rapidly expanding, technically savvy audience with news, information, education and entertainment that is seamlessly integrated across print," said Chairman Eric Hippeau. He said the company, which is controlled by the Japanese tech company Softbank, will focus on its Web presence and selected publications, including Yahoo! Internet Life, Inter@ctive Week and online education service ZDU.