Internet portal Lycos last week terminated its proposed merger with USA Networks. The deal would have combined Lycos with several USA Networks properties, including Ticketmaster Online-CitySearc. However, CMGI, Lycos' biggest shareholder, opposed the deal, as did stockholders. The portal was able to salvage promotional ties with USA, said President-CEO Robert Davis. He said Lycos will receive a "significant" amount of promotion on USA cable networks, branding on Ticketmaster tickets and access to Ticketmaster-CitySearch content. He also said the portal would be making several acquisitions in the coming months.
NBC, Xoom form joint Web company
NBC last week said it was merging several of its sites with community Xoom.com to form a company called NBC Internet. NBCi will use the Snap portal, which NBC co-owns with CNET, as an umbrella site. Other sites merged under NBCi include NBC Interactive Neighborhood, Videoseeker.com and a 10% ownership of CNBC.com. NBCi will buy $380 million in NBC-TV network advertising over the next four years.
In other news
Launchpad Technologies, an Idea-lab start-up behind the eWallet shopping application, agreed to buy PointCast last week. Terms of the deal were