Prodigy gets new owners and strategy; managers and start-up buy on-line operation
Article Abstract:
Sears, Roebuck & Co. and IBM announce they are selling the Prodigy on-line service to International Wireless and 40 Prodigy managers. International Wireless is an investment group managed by Boston Technology Chmn Greg Carr and Mexican billionaire Carlos Slim Helu. Observers report the managers and International Wireless paid approximately $200 million for Prodigy. Analysts indicate Prodigy is losing market share to industry leaders CompuServe and America Online. In fact, Prodigy has 1 million subscribers while America Online is adding new members to its 5.4 million customer base. However, Prodigy CEO Edward Bennett is changing the focus of the service to emphasize entertainment, special-interest and information sites. He has hired managers from numerous entertainment companies to help turn Prodigy into a robust and popular on-line destination. International Wireless will also expand Prodigy into new countries.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Net businesses see ardor cool on Wall Street; Pursuit of market share outruns business concerns
Article Abstract:
While Microsoft, Intel, and Oracle's stock is up approximately 50%, Internet businesses have lost stock market value. Investors seem to favor companies which produce the hardware infrastructure of the Internet, while eschewing Internet-based businesses. Wired Ventures Inc, in the vanguard of the Internet elite, canceled an initial public offering which valued the company at $272 million, due to investors' lack of interest. Stock value has plummeted for many prominent Internet-based businesses, from search engine providers such as Yahoo Inc, Excite Inc, Infoseek Corp and Lycos Inc, to electronic commerce companies, information services, and giants America OnLine amd Compuserve Corp. Many new Internet-based companies went public early, before showing a profit. Netscape stock value has dropped by one third due to investor concern over increased competition with Microsoft.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Rethinking copyright and ethics on the Net
Article Abstract:
Simba Information repackages and sells academic research published on the Internet without sufficiently crediting the source, raising copyright and ethics issues. The $995 Simba report targets the corporate market. Its text does state that the preparers consulted research from the academic research group called Hermes, but it fails to acknowledge the extent of the Hermes contribution. Using research findings without sufficiently acknowledging the source is not a copyright infringement, but it is an ethics issue. These issues are becoming more important as the Internet moves from its original academic and research users to those anxious to exploit its commercial opportunities. Simba acknowledges that Hermes should have received more prominent recognition and plans a $5,000 donation to a charity picked by Hermes.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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