conference Monday in New York, Peter Mills, general partner in CMGI's investment arm, CMG@Ventures, said a confederation of third parties that could include CMGI was looking to buy Lycos.
Mills said potential "interested parties have stepped up."
Last week, CMGI CEO David Wetherell
quit the Lycos board of directors to protest the merger of Lycos and units of
and to look for alternative solutions.
"It's about economics," Mills said. In another matter, Mills noted that CMGI would announce a sale of its minority holdings in online ticketing operation,
News that CMGI will be added to the
beginning Wednesday is providing a lift in the stock today. It was up 17, or 10%, at 181. CMGI will replace
in the Nasdaq 100.
Shares of Lycos were up 6 3/8, or 6.5%, at 105.
-- George Mannes
In the News
continued to soar. The stock was up 55% Friday to 27 13/16 after
Credit Suisse First Boston
announced it was initiating coverage of the company with a buy rating. Onyx CEO and Chairman Brent Frei appeared on
this morning and the stock raced to an early high of 51 5/8, but was recently trading at 41 1/2.
was up 19 9/64, or 27%, to 74 after a number of firms initiated coverage of the stock last week.
traded to an all-time high after the
cleared AOL's purchase of Netscape Friday. AOL was trading 2 5/8 higher, or 2.7%, at 98 3/4. Netscape also traded to a new high of 89 1/4 and was recently up 3 3/4, or 4.4%, at 88 5/8.