Madrid, Spain-based Terra Networks SA acquired locally-based Lycos last October for $6.5 billion. Since then, a softening of the online advertising market has plagued the company--along with other Internet service providers, such as Yahoo!, which have announced similar cuts. Terra Lycos has also said that it would achieve operating profits by the end of this year. In its financial results for the past quarter, the company posted a net loss of $155 million on revenue of $165 million. On an operating basis, Terra Lycos lost $68 million, which is still $23 million less than it lost in the fourth quarter of last year.

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