Claxson Sells DeCompras.com To Terra.com.
September 24, 2001
Claxson announced it has sold certain assets of DeCompras.com, an e-commerce business targeting Mexico and Mexican-Americans in the United States, to Terra Lycos. The terms of this transaction were not disclosed.
El Sitio, Inc., the Internet company that merged to become part of Claxson last month, had previously determined not to devote the financial and other resources required to further develop DeCompras.com. Accordingly, El Sitio discontinued the operations of DeCompras.com in the second quarter of 2001.
Claxson stated that the divestiture of DeCompras.com will free up capital resources for deployment into growth initiatives for its media businesses. Claxson, through its El Sitio network of Web sites, will continue to offer users a shopping guide which provides links to other websites for online sales by local and U.S.-based e-merchants. The El Sitio network also provides a shopping help center dedicated to assisting users as they navigate the online buying process.
