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Terra Lycos Looking To Sell Lycos Portal
WebProNews
Staff Writer
2004-04-28
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Wanting to concentrate on their Spanish language businesses, Terra Lycos has retained the services of Lehman Brother investment bank in an effort to sell its US-related businesses. This appears to include web portal Lycos.com.
Terra and Lycos merged in 2000, at the height of the dot com craze for $12.5 billion. News.com obtained a document that outlined Terra Lycos' plan.
The document says, "an acquisition of Lycos, one of the last available premier Internet search and content properties, represents an outstanding and unique value creation opportunity at a time when advertising budgets are increasing, paid online content is gaining broader acceptance and public markets are favorably rewarding consolidation in the rapidly growing search market."
Terra Lycos is looking to sell the portal, along with its other US-based businesses, for $200 million. The company feels that the Lycos portal is becoming a more attractive property because of the increase in online advertising revenue, particularly keyword spending.
Lycos Generated $98 million last fiscal year. Many investing news outlets feel a sale like this is possible because of increased confidence based on recent revenue reports. Although none expect a return to the late 90's craze of spending that swept internet related properties.
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