CMGI will downsize

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Andover, Mass.--CMGI Inc. announced a series of downsizing moves to cut costs. The b-to-b holding and investment company will axe the number of companies that it holds a 50% stake in from 17 to as few as five. It has also called off plans to launch an international fund with Hicks, Muse, Tate & Furst and Pacific Century Cyberworks.
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