Interactive Magic completes Sale of CD-ROM Product Line

Interactive Magic completes Sale of CD-ROM Product Line. Interactive Magic says that it had completed the sale of its CD-ROM product line to Ubi Soft Entertainment. Proceeds from the sale will strengthen the company’s balance sheet and be used to continue to implement its Internet Entertainment Community Management business and its Internet acquisition strategy. Interactive Magic will hold a press conference live on the Internet at 9:00 EST on Tuesday, July 20, 1999 to discuss the progress being made on its Internet Entertainment Community Management business.