Zap revives Web plans

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Zap Corp., Rochester, N.Y., a subsidiary of Zapata Corp., announced Dec. 23 it intends to revive its Internet plans with a network of sites. As part of its plan, Zap plans to bring back the portal and review its relationship with more than 20 Internet and e-commerce companies it had formed alliances with earlier this year. Zapata is a fish oil and sausage casings company that barged onto to the Internet scene earlier this year. Last May it offered to buy the Excite portal for $1.7 billion, a proposal that was promptly rejected. In July it began agreeing to acquire several Internet companies. When the market for Internet stocks temporarily cooled off in October, Zap dropped its plans, blaming market conditions.

Copyright December 1998, Crain Communications Inc.

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