|
AOL signs three brokerages
|
 |
June 30, 1998: 10:30 a.m. ET
Two-year pacts with Waterhouse, DLJdirect, E-Trade valued at $75M
|
NEW YORK (CNNfn) - America Online Inc. said Tuesday it has signed three online brokerages to two-year content deals valued at $75 million.
AOL (AOL), the largest online service, said it will feature content from DLJdirect Inc., E-Trade Securities Inc. and Waterhouse Securities Inc. on its brokerage and mutual fund centers on its Personal Finance channel.
The agreement calls for each brokerage to pay AOL $12.5 million annually over the pact's two-year term for a total of $75 million.
AOL said the Personal Finance channel is its most frequently visited channel and that trading through its brokerage center increased 321 percent from 1997.
DLJdirect is a wholly owned subsidiary of Donaldson, Lufkin & Jenrette.
Shares of AOL (AOL) gained 1/4 to 103-1/2 in early Tuesday trading. Shares of Donaldson, Lufkin & Jenrette (DLJ) slipped 1/2 to 50-3/8. 
|
|
|
|
|
 |
|
