Separately, NBC said it would merge some of its Internet assets with Xoom, which emphasizes direct marketing.

The Times Company had been one of several media companies that planned or at least had laid the groundwork for issuing stock based on Internet assets.

And Disney is combining its Internet assets with Infoseek, a Web search service.

All three companies have announced deals in recent weeks that add to their Internet assets, but the moves have caused little stir in their stock prices.

It's quite another for Internet assets to buy assets of this quality and variety.

"It will be a CNN which will have convergence of its television assets and its Internet assets."

Ziff-Davis, the computer-oriented publishing company, issued a tracking stock for its Internet assets in March of last year.

Liberty also plans to transfer its interactive and Internet assets into TCI Music.

Science, Inc. focuses on developing new businesses, advising emerging startups and providing them with capital, and transforming developed Internet assets through innovation.

The Internet assets were merged with Interland Inc., which changed its name to web.com, and all ties to Micron Technology were severed.