Spotlight: Wired Lines Up Financing After Failed IPO

Wired Ventures Inc. lined up $21.5 million from institutional investors to finance its expansion, after pulling the plug on an initial public offering three months ago. The San Francisco-based company, which publishes Wired magazine and has an Internet site, declined to disclose terms or provide the names of the investors. In October, Wired canceled a scaled-down $66.5-million public offering. Wired failed to interest investors, who said it was asking too much for a publishing firm.