CMGI Sells Stake in Signatures SNI

CMGI Inc. said it sold a majority stake of its Signatures SNI Inc. to the music merchandising and licensing unit’s management as the Internet-venture company moves to exit the entertainment industry. Terms weren’t disclosed. CMGI, which said it stopped funding its Web entertainment site ICast Corp. in November, will retain a significant minority interest in Signatures, CMGI spokeswoman Kim Robinson said. The shares of Andover, Mass.-based CMGI fell 50 cents to close at $5.03 on Nasdaq.