CondeNast getting wired

CondeNast is is about to drop $25 Million to give Wired Magazine back it's web business. Lycos Inc. said Tuesday that it had agreed to sell its Wired News online properties for $25 million to Condé Nast Publications, owner of Wired magazine, the print publication that is equal parts technology-culture trend-spotter and glossy product catalog. Lycos acquired Wired News for a reported $83 million as part of the Wired Digital acquisition that closed in June 1999. The deal came a year after Advance Publications, owner of Condé Nast, paid $75 million to buy Wired from Louis Rosetto and Jane Metcalfe, the co-founders, and other investors. The sale followed two failed efforts at an initial public offering. read...