By Chris Holbrook, 30 January 2001 13:33
NEWS Some $150m has been spent developing the site over the last two years, but growth has been slow, with analysts questioning how it could turn in a profit. Go.com is part of the Disney Internet Group (DIG) formed in 1999 through the merger of Infoseek and Disney's Buena Vista Internet Group in a deal valued at $3.5bn at the time. DIG posted a $1.1bn net loss in fiscal 2000. Disney will take more than $800m in mostly non-cash write-offs in fiscal second quarter 2001 in connection with the portal shutdown. The company is also considering selling some of its assets, including the Infoseek search engine it bought in 1998.
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