CompuServe rejects AOL purchase offer

The board of directors at CompuServe has turned down a bid by America Online (AOL) to purchase the online service. Apparently, AOL was offeringCompuServe about $1 billion. With AOL out of the way, new investors arelining up, including a New York investment firm that will attempt to outbidAOL.

CompuServe has fallen on hard times lately with falling subscriber numbersand flat earnings. Last quarter, the company posted a $18 million loss