Terra no firmer after Bertelsmann decision

NEWS Terra Lycos' biggest advertising account has dried up, with Bertelsmann back-tracking on a previous five-year commitment to the Spanish ISP. The German media giant two years ago agreed to spend around $1bn over five years with Terra but the price of advertising falling so fast led to a reassessment of the companies' relationship. It is now thought advertising and other services will only be paid for up to October this year. It is unclear whether Spain's Telefonica, Terra's main shareholder, will make up the shortfall, as previously expected.