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| CBS makes Web Investment |
| October 05, 1999
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| CBS Corp. is teaming with a small Internet company to create a Web site that will lure users with daily cash prizes and also combine the TV network's varied Web offerings, from business and investing news, to sports and entertainment. CBS said Tuesday it will pay $30 million in cash for a majority of CTC Bulldog Inc., an Irvington, N.Y. venture formed earlier this year. The deal represents CBS's first majority stake in a Web site and intensifies the company's already aggressive foray into the Internet. The companies' new site, iWon.com, was launched Tuesday. Its most prominent feature is an ongoing cash sweepstakes that will give away $10,000 a day, $1 million every month and $10 million on tax day, April 15.
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