From: Jim Choate <email@example.com>
Message Hash: 524b78984f6ee7521ea83b3336c8e116f38a6b048df6c73c8f4460f362ab8d10
Message ID: <199709081244.HAA01368@einstein.ssz.com>
Reply To: N/A
UTC Datetime: 1997-09-08 12:40:11 UTC
Raw Date: Mon, 8 Sep 1997 20:40:11 +0800
From: Jim Choate <firstname.lastname@example.org> Date: Mon, 8 Sep 1997 20:40:11 +0800 To: email@example.com Subject: http:--cnnfn.com-digitaljam-9709-08-compuserve- Message-ID: <199709081244.HAA01368@einstein.ssz.com> MIME-Version: 1.0 Content-Type: text/plain More privacy and security with QUALCOMM's CDMA digital wireless phones. CLICK HERE [INLINE] Deals CompuServe CompuServe, AOL in deal WorldCom buys CompuServe for $1.2 billion, to flip part to AOL September 8, 1997: 7:29 a.m. ET [LINK] [INLINE] CompuServe cuts losses - August 20, 1997 CompuServe tests flat rate - July 21, 1997 [IMAGE] CompuServe America Online Infoseek search __________ ____ ____ NEW YORK (CNNfn) - H&R Block said Monday it will sell its 80 percent stake in CompuServe to WorldCom Inc. for about $1.2 billion in a complex deal which will ultimately turn over CompuServe's content and subscribers to America Online. [INLINE] Under the deal, CompuServe shareholders, including H&R Block, will receive 0.40625 shares of WorldCom stock for each share of CompuServe. [INLINE] After that deal is completed, WorldCom will turn around and give AOL all the CompuServe content assets and subscribers plus $175 million in exchange for AOL's Advanced Networks and Services division, which supplies about one-third of the network capacity for AOL's own customers. [INLINE] The deal will add CompuServe's approximately 5 million home and business subscribers to AOL's pool of about 8 million customers. AOL is the world's largest online service provider. [INLINE] WorldCom, a business telecommunications company based in Jackson, Mississippi, will be adding AOL's high-speed Internet access division to its own services. WorldCom will retain CompuServe's Network Services division, which comprises about 100,000 ports used to support dial-up users as well as other corporate computer services, such as intranets. [INLINE] The deal ends AOL's long journey toward acquiring its online rival. America Online has made attempts to purchase the service as recently as July. AOL made a $1 billion stock bid over the summer, which H&R Block rejected. [INLINE] The deal will now face regulatory review and could possibly trigger concerns over AOL's largely increased market share. Link to top -- Randy Schultz home | deals | hot stories | contents | search | stock quotes | help Copyright © 1997 Cable News Network, Inc. ALL RIGHTS RESERVED.