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Article: CMG Information Services announces planned sale of America Online Inc. common stock.
- Article from:
- Business Wire
- Article date:
- March 29, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WILMINGTON, Mass.--(BUSINESS WIRE)--March 29, 1995--CMG Information Services Inc. (NASDAQ: CMGI) announced today that CMG, which owns 710,000 shares of the common stock of America Online Inc. ("AOL"), has registered to sell up to 350,000 of such shares.
The AOL shares have been registered with the Securities and Exchange Commission and will be sold pursuant to a prospectus. After the sale of AOL shares, CMG will continue to hold at least 360,000 shares of AOL common stock or 2.1 percent of the shares of AOL common stock outstanding on Feb. 28, 1995.
CMG will use a portion of the proceeds from the sale of the AOL shares to fund CMG @Ventures which CMG has ...