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EUniverse to buy L90 in deal valued at roughly $50 million

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Los Angeles--EUniverse Inc., an online entertainment network, said it plans to buy Internet advertising firm L90 Inc. in a cash deal worth between $49.8 million and $54.8 million. Under the terms of the deal, eUniverse would pay L90 stockholders between $1.80 and $2 per share, based on factors such as the amount of cash on L90's balance sheet, plus an additional 20 cents per share. The deal is set to close in 90 days.
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