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Short Take: USA Networks increases CitySearch stake

USA Networks said it will invest an additional $40 million in Ticketmaster Online-CitySearch. With the investment, USA Networks will increase its stake in the company to 52 percent from 51 percent. Ticketmaster Online-CitySearch will increase its available cash to $93 million to use for investments and acquisitions.

Jim Hu Staff Writer, CNET News.com
Jim Hu
covers home broadband services and the Net's portal giants.
Jim Hu
USA Networks said it will invest an additional $40 million in Ticketmaster Online-CitySearch. With the investment, USA Networks will increase its stake in the company to 52 percent from 51 percent. Ticketmaster Online-CitySearch will increase its available cash to $93 million to use for investments and acquisitions.