David Wetherell Resigns From Lycos Board of Directors.ANDOVER, Mass.--(BUSINESS WIRE)--March 9, 1999--David S. Wetherell, a Director of Lycos, Inc. since its inception and the Chairman and Chief Executive Officer of CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) , Inc., resigned today from the Board of Directors of Lycos effective immediately. CMGI is the largest shareholder of Lycos, which has agreed, subject to shareholder approval, to become part of a new company including Lycos and parts of USA Networks. Mr. Wetherell stated, "After further consideration, it is my opinion that the terms of the USA/Lycos transaction are inadequate for Lycos shareholders. As such, I am resigning from the Lycos Board in order to be free to explore the best options available to Lycos shareholders, including the possibility of Lycos remaining independent." About CMGI A recognized leader in the Internet arena, CMGI (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) has built a sizeable base of Internet operating companies operating company A business that engages in transactions with outsiders. , and through its @Ventures affiliate, a large number of related and synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. Internet investments, using the businesses and technologies of these companies to enhance the value of its core operating companies. This unique method of creating equity for its shareholders is what CMGI calls "creating net value." Microsoft, Intel and Sumitomo hold minority positions in CMGI. The CMGI Internet Group consists of its majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. companies ADSmart, Engage Technologies, NaviSite, NaviNet, Planet Direct, Magnitude Network and ZineZone.com. CMGI's @Ventures affiliate has 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. ), blaxxun, GeoCities (NASDAQ: GCTY), Vicinity, ThingWorld.com, KOZ.com, Silknet, Chemdex, Speech Machines, Softway Systems, TicketsLive, Critical Path, MotherNature.com, Raging Bull, Universal Learning Technology, Visto, Virtual Ink, Ancestry.com, ONElist, Furniture.com, Boston Financial Network and Asimba. CMGI also includes 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 as majority owned subsidiaries in the direct marketing, fulfillment and turn-key arenas. 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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