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Lycos: no plans to partner
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January 21, 1999: 8:45 a.m. ET
Net firm's chief enjoys independence, says partnership isn't imminent
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NEW YORK (CNNfn) - If Lycos is looking to be acquired, apparently it's news to Bob Davis.
Davis, president and chief executive officer of the Waltham, Mass.-based Internet company, appeared on CNNfn's "Business Day" Thursday to play down the acquistion rumors that have been swirling around Lycos (LCOS) lately.
"I'll say the same thing to you today I've been saying for the past year-and-a-half," Davis said. "There's no news. There's nothing that the company is adding today."
Lycos has been linked with the likes of software giant Microsoft Corp. (MSFT) and German media company Bertelsmann, but Davis wouldn't venture into acquisition territory.
"I think what we really have going on is an industry in a media frenzy," he said. "Because Lycos is one of the last remaining independent portals out there today, we would need a partnership."
Davis added that "if the right strategic partnership is there that recognizes the independence of Lycos and adds value to our continued thrust for additional content, brand and distribution, would we consider it? Sure. But, at this stage, we're far from suggesting that any partnership is imminent."
Lycos is indeed a hot property. The Lycos Network draws more than 26 million visitors monthly, second only to Yahoo!, according to Media Metrix data.
"We've just blown by everybody," he said.
Davis noted that Lycos has "been associated with virtually every media company and technology company in the world," but he stressed his company's independence.
"Lycos, remember, has been the consolidator of the industry," he said, "as opposed to the company that's been consolidated. Darwin has certainly proved his theory true here, that the strong have survived."
Lycos stock was down 8-1/8 Wednesday to 104-13/16.
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Lycos
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