Feeds

Lycos/USA Networks merger collapses

Shareholders bring down much hyped deal

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

Three months ago today If you visited The Register exactly three calendar months ago today, this is one of the stories that will have greeted you. At the time, the story was described as 'erroneous and irresponsible' by a top Lycos spin doctor. Turns out to have been painfully accurate too. Original story posted 12/02/1999 The proposed buyout of Lycos by USA Networks has been called off, The Register can exclusively reveal. Sources close to the deal confirmed that the paperwork surrounding the proposed buy-out had been ripped up and thrown in the bin even before the ink was dry. Neither company was prepared to comment the news that the deal had been called off. Yesterday, both parties said the deal was moving ahead (see Lycos merger to form e-commerce giant). But soon after, CMGI, a major stockholder of Lycos, said it was "generally supportive of the Lycos/USA Networks transaction as previously reported, but reserves the right to reassess its position as developments unfold". Shares in Lycos plummeted $33 on Tuesday after the deal was announced. It lost a further $7 on Wednesday but rebounded yesterday by $16 to close at $103.25. ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
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
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
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

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.