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
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
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.