Charles Schwab & Co., Inc.

Internet Daily for Wednesday, May 30, 2001
by Frank Barnako CBS MarketWatch.com

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PC Connection to buy Outpost

One of the oldest mail-order computer and software resellers is
buying one of the oldest online ones. PC Connection said
Wednesday it will buy Cyberian Outpost in a deal worth between
$12.6 million and $25.9 million depending on a formula that takes
into account Cyberian's revenue and PC Connection's stock price
over the summer. The deal allows the two companies to combine
buying power. They also operate distribution centers near each
other in Wilmington, Ohio. Officals said cuts are expected in the
work force, which now numbers about 1,500 for PC Connection and
170 for Cyberian. PC Connection, founded in 1982 with an original
investment of $8,000, reported sales last year of $1.45 billion.
Six-year-old Cyberian reported revenue of $355 million for the
year ended Feb. 28. Cyberian will continue to operate under its
own brand.

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Turkish bill would subject all Web pages to review

Media organizations are fighting a proposed law that would
require Turkish Web site operators and perhaps broadcasters to
submit their content to a prosecutor for approval before
publication. "This is a prohibitive approach that we will neither
agree to nor stomach. We will fight until we obstruct this law
and will struggle against it even if it is passed," Rahmi Aktepe,
head of the Informatics Association of Turkey, told the Reuters
news service. The bill, which was introduced by the majority
party in the legislature and will be voted on soon, would apply
to all electronic broadcasts carrying text or pictures. The
legislation would also require new Internet service providers to
seek permission from the authorities before launching operations,
Reuters reported. Opponents said the bill would hurt Turkey's
chances of gaining admission to the European Union.

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Net firms target larger customers

Internet companies are targeting larger customers as they fight
off the economic slowdown, according to a report released on
Wednesday. About 47% of 90 companies that had been serving
consumers switched to focus on business customers, according to
Webmergers.com, which serves as an online hub for buyers and
sellers of Internet companies. A third of 35 companies already
serving businesses began to target larger enterprise, or Fortune
1000, customers, the report found. A third of the companies found
new revenue models, with about 16% adopting a clicks-and-mortar
strategy, combining their Internet strategies with that of more
traditional businesses, Reuters reported. The repositioning could
lead to sudden shifts in the competitive landscape, with "agile
fringe players" potentially taking both old and new economy
companies by surprise, the study said.

Editor's Note: Neil Chase, a managing editor for
CBS.MarketWatch.com, is filling in for Frank Barnako.

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