Broadcast.com Announces Initial Public Offering
PR Newswire - July 17, 1998 09:17
DALLAS, July 17 /PRNewswire/ -- Broadcast.com inc. Friday announced an initial public offering on the Nasdaq National Market under the trading symbol
BCST.
Broadcast.com is selling 2.5 million shares of common stock at a price of $18 per share. The managing underwriters of the offering are Morgan Stanley & Co. Inc.,
Donaldson, Lufkin & Jenrette Securities Corp. and Hambrecht & Quist LLC.
Broadcast.com (formerly AudioNet) is the leading aggregator and broadcaster of streaming media programming on the Web with the network infrastructure and
expertise to deliver, or "stream," hundreds of live and on-demand audio and video programs over the Internet or intranets to hundreds of thousands of users.
The broadcast.com Web sites offer a large and comprehensive selection of programming, including sports, talk and music radio, television, business events,
full-length CDs, news, commentary and full-length audio books, serving an average of more than 400,000 unique users per day.
Broadcast.com also provides Internet and intranet broadcasting services to businesses and other organizations, including turnkey production of live and archived
press conferences, earnings conference calls, investor conferences, trade shows, stockholder meetings, product introductions, training sessions, distance learning
telecourses and media events.
A copy of the prospectus may be obtained from the offices of Morgan Stanley & Co. at 1585 Broadway, New York, N.Y. 10036, 212-761-4000; Donaldson,
Lufkin & Jenrette Securities at 277 Park Ave., New York, N.Y. 10172, 212-892-3000; or Hambrecht & Quist LLC, One Bush St., San Francisco, Calif. 94104,
415-439-3300.
This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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