Internet service Lycos is in final negotiations to sell a sizeable chunk of the company to NBC Television, according to industry sources.
Although Lycos has openly admitted it has been in talks with "every major media company" it has never discussed specifics. It is believed that NBC will take a 25 per cent stake in Lycos in exchange for cash and airtime for promotions on the NBC network.
Lycos was unavailable for comment. A spokesperson for NBC, which is owned by General Electric, said that it is always on the look out for "opportunities on the Internet," but declined to comment on a possible Lycos tie-up.
TV companies have been sniffing around a number of Internet companies, looking for a way to develop interactive TV services. Lycos is the second most visited portal on the Internet to Yahoo!.
Rumours have been circulating that Yahoo! may sign up with a TV company as well, following AtHome's multi-million dollar acquisition of Excite last month.
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