Web search engine to take ads

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CMG@Ventures has purchased exclusive rights to Lycos, the popular World Wide Web search engine. CMG will form a new company, Lycos Inc., to develop and market the technology. Lycos also plans to sell ad space on its site, following the model of competing Web info provider Yahoo Corp. (which itself became a corporation earlier this year). Developed at Carnegie Mellon University by Michael Mauldin, Lycos uses software robots to search the Web for new sites and maintains more than 3.7 million pages in its catalog. CMG@Ventures was formed earlier this year to invest in interactive media. Other holdings include ProductView Interactive and Ikonic Interactive.

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