CompuServe reported for sale

Published on .

CompuServe Chairman Frank Salizzoni told reporters at a press briefing on Friday that if appropriate offers were made, the company's board of directors was ready to sell CompuServe. Parent company H&R Block did not spin off its equity in the company as planned last August because of CompuServe's poor quarterly results.

Separately, CompuServe pulled Time from its service on Friday afternoon. Service users who typed "GO Time" on the service arrived at a note that said "Time Online is no longer available at this site. Visit the new CSi Newsroom--GO NEWS--for the latest news from respected sources, including the Associated Press, Reuters, United Press International, Dow Jones, Business Wire, PR Newswire and others. You can continue to obtain Time Online content by accessing the Time Warner Pathfinder Web site at"

Time Inc.'s flagship magazine filed a suit against CompuServe on March 19, claiming CompuServe's desire to end a high-paying content deal--$7 million for a two-year presence on CompuServe--was not being handled under the terms of the Time/CompuServe contract. Time reported it wanted a $3.5 million settlement from CompuServe. CompuServe fired back a statement that said Time did not provide enough news value to the service to justify continuation of the deal.

Copyright March 1997, Crain Communications Inc.

Most Popular
In this article: