Can the Mouse Click on the Net?

With Internet companies popping up like dandelions after a summer rain--and being plucked for public offerings even before they start to flower--it's no wonder full-grown companies have been hard at work on their own Web gardens. Last week Walt Disney Co. became the latest media giant wanting to convert its Internet assets into a growth stock.

Disney is planning to buy the 57% of portal partner InfoSeek that it does not already own, consolidate its various Net properties and issue a tracking stock to take advantage of today's relatively high valuations. On their own, Disney's Net holdings would be worth $6...

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