Feeds

Lycos merger to form e-commerce giant

Deal with USA Networks gives portal access to global communities

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

The diversified US media company, USA Networks, is to acquire Lycos, The Register can confirm. The new company, USA/Lycos, will be one of the largest e-commerce groups in the world and the only global Internet portal with local content, auctions and a direct commerce business, the company said. On the Internet, USA/Lycos will reach around 30 million people through its network of Web sites and will have interests or holdings in Canada, Mexico, South America, Asia, Europe and Australia. The new company will rely heavily on the e-commerce infrastructure of the Home Shopping Network, the electronic television retailer and Ticketmaster, the ticketing company. Barry Diller, chairman and CEO of USA Networks, will become the chairman of USA/Lycos. Robert Davis, president and CEO of Lycos, will become president and CEO of the new Company and will join its board of directors. "This places all the necessary ingredients for electronic information and commerce, from 'old' soup to 'new' nuts, into one centrally and aggressively managed enterprise," said Diller. "There is no excuse now for us not to be a dominant player as the world continues its transition towards interactive systems." According to Davis, Lycos has not only survived the portal wars, it has now vaulted past its competition and dwarfed them in revenue, earnings and cash flow. "Our combination of commerce, global and localised content and community delivers unprecedented value to consumers, advertisers and commerce partners in a way no other entity can," he said. Although subject to regulatory approval, the deal is scheduled to be completed by Q2 1999. ®

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.