RealTime IT News

CBQ, El Economista, Lycos to Create Mexico Portal

CBQ Wednesday unveiled a venture plan to bring Lycos and Mexican news provider El Economista together to set up portals for the Mexican and Central American audience.

El Economista will provide content to the portal, while CBQ and Capital House Merchant Banking, LLC to finance the Mexico sites. Content and e-commerce initiatives will be cross-promoted with the Lycos (LCOS) Americas Internet service.

"We believe in the great potential of the e-business market in Mexico," said John Harris, CBQ's chief executive officer."CBQ is delighted to be working with El Economista and Lycos to assure that the Internet portal created by our joint endeavor is technically sound and will support the volume of traffic that we expect to generate."

CBQ said it will mediate the cross-promotions through its dallas headquarters, as the three companies pursue the second largest Internet population in Latin America.

"The launch of our El Economista Web site as part of the Lycos Americas service will expand advertising revenues and allow our content to be seen by more people around the world," said Luis Enrique Mercado, director general of El Economista.

CBQ's interests thus far have ranged from targeting the Chinese Internet market to offering Web-based health care management systems, through its subsidiaries.

In related news, Lycos Tuesday announced in its earnings report that the company's revenue spiked 120 percent in the last year, 23 percent in the last quarter. The network's total profits were $3 million. Lycos also registered 122 million pageviews per day.

"We continue to operate the Internet's premier network of brands and have seen continued momentum in revenue, page view growth and margins," said Robert J. Davis, president and chief executive officer of Lycos. "Further, with the launch of services in seven Latin American countries and our newly announced joint venture with Bell Canada, which makes us the number one portal in Canada, our international operations witnessed great expansion and progress."

Lycos operates independently or through joint ventures in 24 countries.