LYCOS ANNOUNCES THE SALE OF WIRED NEWS TO CONDÉ NAST
Transfer brings WIRED Magazine and award-winning Wired News Together under one owner; Allows LYCOS to focus on Building out Broadband Entertainment DestinationWALTHAM, Mass. - July 11, 2006 - LYCOS, Inc. (www.lycos.com), a leading entertainment destination for creators and consumers of quality content, today announced the sale of its award-winning Wired News (www.wired.com) property for $25.0 million to Condé© Nast Publications, owner of WIRED Magazine. "Wired News has always been synonymous with WIRED Magazine, so it made sense for LYCOS to transfer Wired News to Condé© Nast, the parent company of WIRED Magazine," said Alfred Tolle, CEO of LYCOS, Inc. "Wired News continues to be a leading brand in online news and this new ownership with strengthen both Wired News and WIRED Magazine, creating better synergy between the two media brands." "We are thrilled to be bringing Wired News back into the fold after eight years of separation from the print publication, especially since it comes at a time of exploding growth and creativity on the web, and huge momentum for WIRED Magazine under the superb editorship of Chris Anderson," said Steve Newhouse, chairman of the Advance.Net web division of Advance Publications, Inc., the privately-held parent company of Condé© Nast. Anderson added the reuniting of Wired News with WIRED Magazine was a long-cherished goal. "Wired's focus on innovation and how technology is changing the world can now be matched with our own innovation and experimentation with new ways of doing media online. We're bursting with ideas and can't wait to put them into practice." Anderson said. Since joining LYCOS in 2005, Tolle has defined a new direction for LYCOS, as an entertainment destination for sharing, marketing, and building community around broadband content. "LYCOS is one of the most widely recognized internet brands in the world, and my goal is to continue to reinvigorate the LYCOS brand. This deal allows us to focus entirely on building out LYCOS as an entertainment broadband destination," Tolle added. LYCOS recently teamed with PermissionTV, delivering a high quality broadband entertainment solution to the nearly 25 million visitors of the LYCOS Network, with the look and feel of TV. LYCOS plans to leverage the PermissionTV platform to acquire a wide range of on-demand content from episodic television, to independent films and programming, to long-form films, providing a totally unique broadband based video experience. In the coming weeks, LYCOS will be launching enhanced products and services complimenting its push into broadband content, centered on the delivery, viewing and sharing of video, music and games. LYCOS acquired Wired News as part of the Wired Digital acquisition which closed in June 1999. The current transaction includes the sale of Wired.com and Wired News assets only. LYCOS will retain Hotbot, Hotwired and Webmonkey. Upon completion of the transaction, the assets of Wired News will be operated as part of CondÃ© Nast Publication's web division, CondeNet.
About Wired NewsWired News (www.wired.com) is a leader in online journalism, providing a daily source of exclusive, original news, features and commentary on the impact of technology, science and the internet on business, politics, culture and people's daily lives. The site has been nominated 23 times for online journalism awards and has won numerous awards, including the 2004 IRE Award for investigative journalism and the 2003 People's Choice Webby award for overall excellence. The site was also honored in MediaPosts's 2005 Top 45 Best of the Web, as well as PC Magazine's 2004 "Top Websites You Didn't Know You Couldn't Live Without." Wired News is also the online home of WIRED Magazine, which winner of the 2005 National Magazine Award for General Excellence.
About Lycos, Inc.
Lycos is one of the original and most widely known Internet brands in the world, evolving from one of the first search engines on the web, into a comprehensive network of social media web sites that foster online communities.>Lycos has been a pioneer in intelligent spidering search technology, combining its proprietary technology with other best in class search services to provide a powerful and relevant search experience for its users.
Times change, and Lycos has changed with them, evolving into digital media power house with two major divisions
Lycos, is a network of easy to use community and social sites. Lycos's award-winning products and services include tools for blogging, web publishing and hosting, online games, e-mail, and search. The Lycos Network of sites and services include Lycos.com, Tripod, Angelfire, HotBot, Gamesville, WhoWhere, and Lycos Mail. Integrated, these sites help in bringing people together to interact, conduct commerce, have fun, and experience the best the Internet has to offer, is in our DNA. We offer 40 Local Sites in 120 Languages with a community spanning across 177 Countries. Lycos consistently averages 12 - 15 million monthly unique visitors in the U.S.
Lycos employs over 500 people working out of 24 offices worldwide, including the US, Argentina, Brazil, Chile, Uruguay, Mexico, the UK, France, Germany, Italy, Ukraine, Sweden, Serbia, Israel, China, Thailand, Panama, India, Emirates, Russia and Australia, and with representatives or partners in Spain, South Africa, and The Netherlands.www.lycos.com
US PR Department
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