By Julian Goldsmith, 13 July 1999 14:37
NEWS Net portal, Lycos, is expected to extricate itself from a tangled merger attempt with home shopping company, USA Network and its Ticketmaster-Citysearch unit. By 15 July, Lycos should be free to search for alternative merger partners. Additionally, USA Network will also be free to make higher bid for the company. The proposed merger fell apart last May when influential Lycos shareholders objected to the deal (see http://www.silicon.com/a30147 ). According to US reports, Lycos executives have stated that the company is in no hurry to look for another buyer, although financial analysts believe it will eventually go under the hammer. The news comes as pundits expect to see the company launch its own online auction house sometime this week. Lycos claims it will be able to set its service apart from frontrunners like eBay by offering users the ability to keep tabs on multiple bids through links integrated on their personalised pages.
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