CMGI Comments On Termination of the Lycos-USA Networks Transaction.ANDOVER, Mass.--(BUSINESS WIRE)--May 12, 1999-- David Wetherell, Chairman and Chief Executive Officer of CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :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 grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. 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 The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. , 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 (Liquid Crystal on Silicon) A technology used to make microdisplays for rear-projection TVs and head-mounted displays (HMDs). Each LCoS chip hosts a grayscale LCD shutter sandwiched between a cover glass and a mirror. ), 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 CMG Coastal & Marine Geology (USGS) CMG Chipotle Mexican Grill, Inc. (stock symbol) CMG Companion (of the Order Of) St Michael and St George CMG Computer Measurement Group 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 http://www.cmgi.com |
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