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CMGI cites Lycos suitors
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March 15, 1999: 12:55 p.m. ET
Firm's managing director says third parties have expressed interest in portal
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NEW YORK (CNNfn) - In another twist to USA Networks Inc.'s proposed acquisition of Lycos Inc., CMGI Inc., which holds a 20-percent stake in Lycos, Monday said third parties have expressed interest in acquiring the Web portal.
The Andover, Mass.-based firm, which is Lycos' biggest shareholder, also said it will not vote to approve the planned merger with USA Networks as the deal is structured.
CMGI (CMGI) chief executive David Wetherell had initially expressed doubts about the transaction because USA Networks (USAI) offered Lycos (LCOS) only a 2-percent premium over its stock price when the deal was announced last month.
Last week, Wetherell resigned from Lycos' board to protest the deal. The move opened the door for Wetherell to seek additional suitors for Lycos.
Peter Mills, CMGI's managing director, said third parties have expressed an interest in Lycos, though he didn't provide further details.
Mills made his remarks following a presentation at the PaineWebber Internet conference in New York.
USA Networks declined comment on CMGI's statements. Lycos officials could not be reached for immediate comment.
USA Networks Chairman Barry Diller has previously said he is not considering renegotiating the deal with Lycos. 
-- from staff and wire reports
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