Tue, Feb 06, 2001 EST
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Terra Lycos Buys Raging Bull Site From CMGI
Associated Press
NEW YORK — Troubled Internet holding company CMGI said it has sold the Raging Bull Web site, held through its AltaVista subsidiary, to Terra Lycos for an undisclosed amount of cash.

Terra Lycos plans to use Andover, Mass.-based Raging Bull to complement other financial sites it already owns, Quote.com and Invertia.com.

The Raging Bull site features over 13,000 message boards and attracts 2 million unique users per month, Terra Lycos said, citing research by Media Metrix. The site, which also offers e-mail services, targets individual investors and competes with similar financial destinations like The Motley Fool and Yahoo!

"Financial message boards are fairly sticky sites and tend to attract a lot of revenue," said Lisa Haas, an analyst with Wit Soundview," said Lisa Haas, an analyst with Wit Soundview. "Alta Vista was certainly looking to get rid of it, and given that Lycos and AltaVista both have deep relationships with CMGI, I'm sure they were able to negotiate a pretty fair price."

Terra Lycos, the Spanish Internet network and service company, acquired the Lycos Web portal last October. CMGI had been an original investor in Lycos and once owned 80 percent of the company.

CMGI has been trimming back its positions lately. This month, the company lowered revenue expectations and AltaVista laid off 25 percent of its work force.

According to an October Securities and Exchange Commission filing, CMGI owns 6.79 million shares in Terra Lycos, or about 1 percent of Terra Lycos' outstanding shares.

Terra Lycos also said Tuesday that it has bought Iberwap, a provider of digital mapping services and content on the Web.

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