Herring sets aggressive Web plan

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Herring Communications, publisher of The Red Herring, an entertainment and technology business magazine, plans to introduce a new magazine, a Web news service to compete with CNET and a high-end "extranet" research service for Internet companies, said CEO Anthony Perkins in a presentation Tuesday at the @d:tech conference in Chicago.

The new magazine, carrying the working name Digital Money, will launch later this year and focus on investment opportunities in Internet companies and stocks. It will complement The Red Herring, a 65,000-circulation monthly, and Hits, a quarterly supplement to Red Herring.Mr. Perkins said Herring soon plans to introduce an Internet-based technology news and business service that he dubbed a "high-end CNET," referring to the service set up by competitor CNET: The Computer Network.

Building on Herring's magazines and news service, Mr. Perkins said he also plans to launch a research service for corporate clients, in which Herring analysts would deliver analysis and reports via a private network.

Privately owned Herring will double its staff from about 60 people this year to support the new ventures, Mr. Perkins said.

Copyright March 1997, Crain Communications Inc.

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