CMGI to Sell iCast, 1stUp Businesses
CMGI
(CMGI)
, an Internet incubator with investments in 70 Internet companies, plans to sell its entertainment Web site
iCast
and its free Internet access business
1stUp.com
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The company has previously disclosed plans to consolidate its operations in an effort to move toward profitability.
Additionally, online marketing company
Engage
(ENGA)
, a unit of CMGI, said it expects fiscal 2001 revenue to grow 16% to $205 million. The company posted revenue of $176.8 million in fiscal 2000.
Engage warned last week that first-quarter revenue would total $40 million to $42 million, down from $66.7 million in the fourth quarter, because of an oversupply in the media market and weak demand from dot-com companies.
