Prodigy on the Block?

Monday, Jan. 15, 1996
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NEW YORK: IBM and Sears, Roebuck and Co., the co-owners of Prodigy, will decide whether to sell the country's third-largest online service by March. The Wall Street Journal reported Monday that the firms, which have been onsidering the action for months, have hired investment bankers to explore a sale. The Journal also said that IBM rebuffed a possile offer for Prodigy by AT&T because it views the long-distance company as as a competitor. Prodigy, founded in 1984, has 1.5 million subscribers. In the past two years, it main competitors have overtaken it: America Online now has 4.5 million subscribers, and CompuServe has 4 million.