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Article: CMGI Divests Interest in Signatures SNI.
- Article from:
- Business Wire
- Article date:
- November 7, 2002
CopyrightCOPYRIGHT 2002 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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Business Editors
SAN FRANCISCO and ANDOVER, Mass.--(BUSINESS WIRE)--Nov. 7, 2002
CMGI, Inc. (Nasdaq: CMGI) and Signatures Network today announced that CMGI has divested its debt and equity interests in Signatures SNI, Inc., the parent company of Signatures Network. Under the terms of the agreement, CMGI transferred its interests to Signatures SNI in exchange for a cash payment of $8 million and future contingent consideration. Signatures Network is a leading merchandising and licensing company in the music industry.
CMGI acquired a majority interest in Signatures SNI, Inc. in September 1999. In February 2001, CMGI restructured its interest in ...