TECHNOLOGY / MORE ON TECH : Microsoft Names Head of Internet Business

Microsoft Corp. said it named Richard Belluzzo, 45, who recently resigned as chief executive and chairman of Silicon Graphics Inc., to head its Internet business, but it denied the move is a step toward spinning off the business into a separately traded company. President Steve Ballmer said Microsoft would be “open-minded� about its financial structure, but he splashed cold water on recent speculation about a spinoff. A spinoff, he said, “would bring a lot of complexity with it--and you have to ask what benefits it would bring.� Belluzzo will report to Ballmer as chief of Microsoft’s consumer and commerce group, which includes the MSN Internet service, WebTV and other Net-related assets. Microsoft closed down 56 cents at $91.81 on Nasdaq.