H&R Block is close to sale of CompuServe stake
Article Abstract:
H&R Block apparently is close to selling its 80% share of CompuServe to Welsh, Carson, Anderson & Stowe, according to executive insiders. Terms are undisclosed, but the sources indicate that Welsh Carson aims to acquire a controlling interest while leaving Block a minority share. Welsh Carson also wishes to purchase the remaining 20% of CompuServe stock that is publicly traded. Block is considering other bids, including those from Internet-access giant UUNet Technologies' owner WorldCom, plus an offer from America Online (AOL) and its partner, Bertelsmann. Block has owned CompuServe for 17 years but has lost money and customers since the Internet and rivals such as AOL entered the market. Welsh Carson, a leveraged buyout company, has been purchasing information firms in recent years to compete with other financial-service companies.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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A hot strategy: Declare yourself an Internet firm
Article Abstract:
A growing number of diverse companies are attempting to capitalize on the Internet's growth. Even low-tech businesses are drawn to the hype and lucrative stock prices surrounding the international network. Real-estate tycoon Donald Trump is among those willing to expand beyond their core business competencies. He is expected today to announce Trump New Media LLC, a new company that would provide video-on-demand service and high-speed Internet access for approximately $30 a month. Trump New Media will cooperate with FreelinQ Communications Corp, which is based in New York.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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