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Search Engine, LYCOS, Sells Wired News to Conde Nast
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Waltham, Massachusetts - (Cheap Web Hosting Directory) - July 12, 2006 - Conde Nast Publications, owner of WIRED Magazine, has purchased search engine and entertainment destination, LYCOS, Inc.'s, Wired News property for $25 million.
Steve Newhouse, Chairman of the Advance.Net web Division of Advance Publications, Inc., the privately-held parent company of Conde Nast added, ''We are thrilled to be bringing Wired News back into the fold after eight years of separation from the print publication, especially since it comes at a time of exploding growth and creativity on the web, and huge momentum for WIRED Magazine under the superb editorship of Chris Anderson.''
Alfred Tolle, CEO of LYCOS, Inc. commented, ''Wired News has always been synonymous with WIRED Magazine, so it made sense for LYCOS to transfer Wired News to Conde Nast, the parent company of WIRED Magazine. Wired News continues to be a leading brand in online news and this new ownership with strengthen both Wired News and WIRED Magazine, creating better synergy between the two media brands.''
Mr.
Anderson added ''Wired's focus on innovation and how technology is changing the world can now be matched with our own innovation and experimentation with new ways of doing media online. We're bursting with ideas and can't wait to put them into practice.''.
Since joining LYCOS in 2005, Mr. Tolle has defined a new direction for LYCOS, as an entertainment destination for sharing, marketing, and building community around broadband content. Mr. Tolle added, ''LYCOS is one of the most widely recognized internet brands in the world, and my goal is to continue to reinvigorate the LYCOS brand. This deal allows us to focus entirely on building out LYCOS as an entertainment broadband destination.''
LYCOS recently teamed with PermissionTV, delivering a high quality broadband entertainment solution to the nearly 25 million visitors of the LYCOS Network, with the look and feel of TV. LYCOS plans to leverage the PermissionTV platform to acquire a wide range of on-demand content from episodic television, to independent films and programming, to long-form films, providing a totally unique broadband based video experience. In the coming weeks, LYCOS will be launching enhanced products and services complimenting its push into broadband content, centered on the delivery, viewing and sharing of video, music and games. LYCOS acquired Wired News as part of the Wired Digital acquisition which closed in June 1999. The current transaction includes the sale of Wired.com and Wired News assets only. LYCOS will retain Hotbot, Hotwired and Webmonkey. Upon completion of the transaction, the assets of Wired News will be operated as part of Conde Nast Publication's web division, CondeNet.
Wired News is a leader in online journalism, providing a daily source of exclusive, original news, features and commentary on the impact of technology, science and the internet on business, politics, culture and people's daily lives. The site has been nominated 23 times for online journalism awards and has won numerous awards, including the 2004 IRE Award for investigative journalism and the 2003 People's Choice Webby award for overall excellence. The site was also honored in MediaPosts's 2005 Top 45 Best of the Web, as well as PC Magazine's 2004 ''Top Websites You Didn't Know You Couldn't Live Without.'' Wired News is also the online home of WIRED Magazine, which winner of the 2005 National Magazine Award for General Excellence.
Lycos, Inc. is a wholly owned subsidiary of Daum Communications Corp., an Internet portal and e-commerce destination in Korea with a growing presence throughout the Asian markets. Lycos, Inc. creates and operates search, community and technology lifestyle sites including Lycos.com, Hotbot.com, Wired.com, Tripod.com and Angelfire.com. Other Lycos products and sites include Lycos Mail, Lycos Games, Lycos Planet, Lycos Phone and GetRelevant. Lycos was acquired by Korean Daum Communications Corp. in October 2004 and has its U.S. headquarters in Waltham, Massachusetts. Daum Communications Corp. is traded on the KOSDAQ: 035720.
To learn more about Wired News, please visit: www.wired.com.
For more information about Lycos, please visit: www.lycos.com.
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