The former debt-beset Dialog Corporation, now slimmed to the bone and renamed Bright Station, has lost £111 million in the first quarter of 2000 after writing-off most of its information database assets, the company revealed yesterday.
In May, Bright Station continued its predecessor’s headline-hogging habits when it bought the technology assets of failed e-tailer Boo.com from liquidator KPMG for just £250,000 [WAMN,31-May-00]. It now hopes to establish itself as an internet software and investment company.
Although free from debt, high profile chief executive Dan Wagner admits that Bright Station does not expect to make any profit for at least two years. Meantime, the company is attempting to market Boo.com's internet retailing technology to third parties.
News Source: CampaignLive (UK)