Victoria Hall, Senior Reporter
July 15, 1999
CBS Will Acquire 35 percent stake in Medscape
News broadcaster CBS Corp., New York, announced this month that it will acquire a 35 percent stake in an online health and medical information provider Medscape Inc., New York, to complement its healthcare programming.
Under the terms of the agreement, Medscape (www.medscape.com) will be able to use the CBS trademark and logo as well as promotion and branding, valued at $150 million over a seven year period.
The radio subsidiary of CBS, Infinity Broadcasting Corp., also will receive a pro rata share of the investment.
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