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Internet venture capital company CMGI, Andover, Mass., said last week it will buy an 83% stake in Compaq Computer Corp.'s AltaVista Co., Palo Alto, Calif., for $2.3 billion in stock and other assets. The deal, subject to regulatory approval, includes search engine AltaVista and related properties Zip2 and, which CMGI said would be integrated into its network of 40 Web properties. Compaq will get a 16.4% stake in CMGI and integrate CMGI's sites into its PCs.

AltaVista said it still plans to spend $100 million in advertising in the next 18 months. About six traditional agencies are competing for the account, with a decision expected by the end of July.

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Former Joe Boxer marketing director Luanne Calvert, 36, has taken a new job at Yahoo! with the official title of buzz marketer. Ms. Calvert describes the job as breaking through the advertising clutter with unexpected activities, such as Yahoo!'s stationing of people with Yahoo! signs outside airport arrival areas. . . . AT&T Corp. handed all its interactive work to Strategic Interactive Group, Boston, a subsidiary of Bronnercom. AT&T parted with Modem Media-Poppe Tyson, Norwalk, Conn., its Web agency of eight years, because of philosophical differences, AT&T and Modem Media spokesmen said. AT&T represented 20.7% of Modem Media's $42.5 million in '98 revenue. . . . Procter & Gamble Co. agreed to an ad buy on the portal Yahoo! featuring Pringles, Pepto-Bismol, Pampers and nine other P&G brands. Financial terms of the deal were not disclosed. P&G spent $4.4 million on measured Internet ads in 1998. The deal includes direct marketing, branding and customized microsites, which will integrate Yahoo! content and services. . . . CNET will spend $100 million over the next 18 months on its campaign from Citron Haligman Bedecarre Euro RSCG, San Francisco (AA,

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