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Conde Nast Buys ‘Wired News’ Back from Lycos
Lycos Inc. has agreed to sell its Wired News online properties back to Conde Nast Publications, owner of Wired magazine, for $25 million, writes the New York Times. Lycos acquired Wired News as part of the Wired Digital acquisition in June 1999, just a year after Conde Nast acquired Wired from co-founders Louis Rosetto and Jane Metcalfe and other investors.
The current transaction includes the Wired.com domain name and Wired News assets, according to the article, but Lycos will retain other Wired online properties such as Hotbot, Hotwired and Webmonkey.