CMGI Comments On Termination of the Lycos-USA Networks Transaction
CMGI Comments On Termination of the Lycos-USA Networks Transaction
ANDOVER, MASS. (May 12) BUSINESS WIRE -May 12, 1999--David Wetherell,
Chairman and Chief Executive Officer of CMGI, Inc. (NASDAQ:CMGI), said
today that the decision by USA Networks not to pursue its transaction
with Lycos, Inc. will enable Lycos to return attention to further
development of its core online assets.
"We are gratified that Lycos shareholders will now have new avenues to
realize appropriate value for their shares," Mr. Wetherell said. About
CMGI
A recognized leader in the Internet economy, CMGI (Nasdaq:CMGI) has
built a substantial base of Internet operating companies and, through
its @Ventures affiliate, has invested in a growing series of
synergistic Internet enterprises which enhance the value of its core
holdings. This unique method of generating equity for its shareholders
is what CMGI calls "creating net value." Microsoft, Intel and Sumitomo
hold minority positions in CMGI.
CMGI's majority-owned subsidiaries include Activerse, Adsmart, Engage,
ICast, Magnitude Network, NaviSite, NaviNet, Planet Direct and
ZineZone. The Company's @Ventures affiliates have ownership interests
in Lycos, Inc. (Nasdaq:LCOS), GeoCities (Nasdaq:GCTY), Critical Path
(Nasdaq:CPTH), Silknet (Nasdaq:SILK), Ancestry.com, Asimba, blaxxun,
CarParts.com, Chemdex, eCircles.com, Furniture.com, HotLinks, KOZ.com,
Medical Village, MotherNature.com, NextMonet.com, OneCore Financial
Network, Raging Bull, Softway Systems, Speech Machines, ThingWorld.com,
TicketsLive, Universal Learning Technology, Vicinity, Virtual Ink and
Visto.
CMGI is also the majority-owner of CMG Direct, SalesLink, InSolutions
and On-Demand Solutions, leaders in the direct marketing, fulfillment
and turnkey arenas. CMGI Corporate headquarters is located at 100
Brickstone Square, Andover, MA 01810. Telephone: 978-684-3600. Fax:
978-684-3814. Additional information is available on the company's Web
site cmgi.com
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CONTACT: CMGI
Deidre Moore, (978) 684-3655
dmoore@cmgi.com
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