Prodigy is history

Tim Byars (tbyars@cris.com)
Wed, 08 May 1996 13:20:32 -0700

A person familiar with the agreement said that I.B.M. and Sears had
agreed to accept as little as $100 million for Prodigy, in effect
writing off
more than $1 billion they had invested in the on-line venture
during the last
decade.

The buyout, which had been rumored for months, comes as Prodigy's
rivals
in the on-line industry struggle to keep up with explosive growth.
America
Online Inc., which will announce its latest quarterly earnings on
Wednesday, has been adding nearly 300,000 subscribers a month. A
newer rival, the Microsoft Network, went on line in August and has
already
surpassed Prodigy in its subscription base. 

--


              ** History 101**
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