Internet

IBM, Sears on verge of selling Prodigy

IBM and Sears, Roebuck & Company are about to sell online service Prodigy to a team of the company's managers.

IBM and Sears, Roebuck & Company are about to sell online service Prodigy to a team of the online service's managers as early as this week, according to a report in Interactive Week.

The two companies, which founded Prodigy in 1984, are expected to sell the online service to a group of managers led by Prodigy president Ed Bennet. The sale price could be anywhere from $100 million to $250 million, according to the report.

In February, Sears confirmed its intent to sell its stake in Prodigy, which has slipped to third-place among the major online services behind America Online and CompuServe.

Related story:
Sears gets rid of Prodigy