Reuters, TCI back Sportsline Web site

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Reuters NewMedia and Tele-Communications Inc. are the newest backers of Sportsline USA, a Web-based sports entertainment service. The two companies join venture capital firm Kleiner Perkins Caufield & Byers, New York Life and Alliance Technology Ventures in contributing venture financing of $11 million. Reuters' investment amounted to $3 million. SportsLine is positioning itself as a competitor to ESPN's Web site, ESPNet Sportszone.

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