Lycos takes stake in media network
Two pioneering Web publications, Suck.com and Feed, are joining forces in a new media network backed by the portal.
The network will be developed by Automatic Media, a company created by Feed's founders and Advance.net, which has developed the Web site for Conde Nast's Vogue, among others. Suck.com owner Lycos said it has taken a 25 percent stake in the new company.
In one of its first moves, Automatic Media unveiled plans to integrate Web community software created by the founders of Slashdot.org, a technology site that has grown popular by giving readers a forum to post news and commentary primarily tracking developments in the open-source software movement.
In addition, the new company said it has acquired Alt.Culture, an online encyclopedia of contemporary culture.
"Automatic Media is bringing together the pioneering content brands known for smart, hip and irreverent commentary on pop culture," Advance.net president Jeff Jarvis said in a statement.
Lee deBoer, former president of HBO International and CEO of New Century Network, will head the new company.