BELL GLOBEMEDIA ACQUIRES FULL CONTROL OF SYMPATICO-LYCOS
By Adnews Staff
Toronto-based Bell Globemedia is the sole owner of the Sympatico-Lycos Web site, having acquiring the 29% interest held by its former partner in the joint venture, Terra Lycos of Barcelona, Spain. The financial details are not known. According to Bell Globemedia, a restructuring of the relationship between the two companies led to the acquisition. A series of new agreements will "allow the parties to continue to provide one another, on a non-exclusive basis, certain commercial services," according to Bell Globemedia. Lib Gibson, president and chief executive officer of the company, said the acquisition was an important step toward consolidating all of its media properties. Bell Globemedia is owned by BCE Inc., The Thomson Corp. and The Woodbridge Company Ltd. It consists of the CTV television network, The Globe and Mail newspaper and the Bell Globemedia Interactive group of Web sites.