Wednesday, April 28, 2004

Web portal for sale, slightly used | CNET

Web portal for sale, slightly used | CNET "A sale of the unit, which is based in Waltham, Mass., would unwind the $12.5 billion merger of Lycos and Terra Networks, struck in 2000 at the height of the dot-com bubble. Now, with a resurgence of online advertising spending, Terra is seeking a buyer for the Lycos division as it focuses on its Spanish- and Portuguese-language businesses, according to the document, prepared by Lehman Brothers and circulated to prospective buyers over the past several weeks.
Terra Lycos is hoping to sell Lycos for cash or liquid shares. Although no purchase price was listed, one source familiar with the deal said Terra Lycos is looking to sell Lycos for $200 million, based on $98 million in pro-forma revenue that the site generated in 2003."

Hmm -- not a happy ROI case study...
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