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AOL gets closer to acquiring CompuServe

Published on .

The Antitrust Division of the U.S. Department of Justice told America Online that it is allowing the statutory waiting period required for AOL to acquire CompuServe to expire. AOL announced on Sept. 8 its intention to acquire CompuServe's interactive services business and receive about $175 million in cash from WorldCom in exchange for ANS, AOL's network services subsidiary. The deal still needs the approval of foreign regulatory matters and CompuServe shareholders.

AOL also announced that Steve Keenan has joined its Internet division AOL Networks as VP-marketing and operations. Mr. Keenan was formerly senior VP-group director at Young & Rubicam, Chicago, and chief operating officer and general manager of Wieden & Kennedy, Portland, Ore.

Copyright November 1997, Crain Communications Inc.

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