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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (5112)	4/6/1999 4:35:00 PM
From: Bob	Respond to of 57584

Tuesday April 6 3:16 PM ET 'Major' Internet Announcement Coming NEW YORK (Reuters) - A news conference is set for Wednesday on what is billed as a ''major Internet announcement in the media business'' involving at least two companies, a spokeswoman for the public relations firm organizing the event said. The firm, Robinson Lerer & Montgomery of New York, said in a statement that the conference would feature ''the companies' CEOs and other executives.'' A spokeswoman would not identify the companies involved. The briefing is for a ''major Internet announcement in the media business,'' the statement said. Robinson Lerer's clients include America Online, the biggest Internet services company. Rumors have swirled for days that America Online was looking for a big merger in the media sector. Speculation has centered on a possible acquisition of CBS Corp. A spokesman for CBS was not available to comment. A spokeswoman for America Online declined to comment. Two sources close to America Online said they were unaware of the planned press conference. The conference is scheduled for 10:30 a.m. EDT at the Righa Royal Hotel in New York City. America Online and CBS stocks both rose after the advisory was issued. AOL stock rose sharply immediately after the announcement but quickly fell back to 163 5/8, off 3 5/16 for the day. CBS stock jumped 3 5/16 to 45 5/16.