Intel is actively taking positions in Internet content companies (e.g. C/net, CBS Sportsline)and buying into CMG will give them entree to lycos, geocities and the other CMG investments. Why do they want this?? So they have a seat at the table as leading content companies make technogical choices in the future. For them this is a very cheap way to buy insurance and get financial upside. also note that Microsoft also owns 4.9% of CMG and with their re-jiggering of MSN and other content, don't be surprised to see more from them re: CMG.