Monday, December 31, 2007
Firm Acquires 10 Percent of EarthLink
Steel Partners, a New York-based investment firm, has acquired nearly 10 percent of the shares of EarthLink Inc., or 11.9 million shares. Steel Partners said the total purchase price of the shares is $97.3 million.
Steel Partners is controlled by Warren G. Lichtenstein, a young corporate raider and associate of investor Carl Icahn. Steel Partners may now be EarthLink's largest shareholder.
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Gary Kim has been a digital infra analyst and journalist for more than 30 years, covering the business impact of technology, pre- and post-internet. He sees a similar evolution coming with AI. General-purpose technologies do not come along very often, but when they do, they change life, economies and industries.
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