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Media - Friday, February 15, 2008

Answers Gives Up The Ghost On $100M Buyout of Dictionary.com

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Answers.com wanted Dictionary.com and its parent group Lexico in a bad way. Enough to agree to pay $100M to buy the ad-supported reference network. The problem is that Answers didn't have the cash and needed to go to Wall Street to do a secondary offering. Now Answers has had to admit that Wall Street gave them the Heisman. Answers has until March 1 to conclude the deal so unless a white knight turns up with that kind of cash Lexico will either be turned lose or it may look for other suitors.

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