Lycos Signs $30 Million in New Agreements in March
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Lycos Inc. said it closed six new agreements in March totaling more than $30 million in advertising, sponsorship, and e-commerce fees.
Of these deals, the CDnow sponsorship and e-commerce deal alone is valued at $18.5 million. CDnow will pay Lycos over a three-year period, including $16.5 million in cash and $2 million in stock.
CDnow becomes the sole retailer of CDs and other music products on Lycos and the Lycos-owned Tripod network.
Other deals during the month were signed with E-Loan, GetSmart, HomeShark, Preview Travel and Realtor.com. Lycos and Tripod now claim an audience reach of 24% of Web users.
"New alliances and advertising opportunities are rising daily from our rapid product marketing and research and development efforts," said Bob Davis, Lycos president and CEO.