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RivalNetworks Plans IPO

March 15, 2000|Bloomberg News

RivalNetworks Inc., the operator of a sports-related Web network with more than 500 channels, plans to hold an initial stock sale that could raise as much as $100 million. The company, whose largest investor is a unit of media mogul Rupert Murdoch's News Corp., said its Rivals.com sports network consists of channels focusing on everything from football to tennis to soccer. The sites cover high school, college and professional sports. RivalNetworks, incorporated in 1998, posted a net loss of $21.4 million in 1999 on revenue of almost $1.2 million.

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