The proposed merger between USA Networks and Lycos in now in limbo until a shareholders vote in July, after the deal?s main opponent decision to make a change of strategy.
Last week CMGI chairman David Wetherell and long-time director of Lycos, announced he was leaving the Lycos Board to be free to explore the best options available to Lycos shareholders including seeking other possible buyers.
However according to US reports, CMGI has now decided to allow the merger to go to a shareholder vote, confident they will get the votes needed to block the plan.
A positive vote for the deal seems unlikely as Lycos is facing a number of class action suits from shareholders claiming Lycos misrepresented its position, by claiming it was committed to remaining independent while it was actually in serious merge talks with USA Networks.
CMGI holds approximately 20 per cent of Lycos shares and has opposed the deal with USA Networks since the shares plummeted following the announcement of the merger.
Moon's dark side is mountainous, rugged and never visible from the Earth
The groundwater basins in some areas of Tehran have been damaged irreversibly
This is the first time that any spacecraft on Mars has recorded air vibrations on the planet
Arctic sea ice is thickening at a faster rate during winter, thus slowing down long-term decline: NASA
But, the seasonal ice growth could only delay the demise of the Arctic ice cap for a few more decades