Broadcast.com Japan shareholders to get 1000 shares of Yahoo Japan for each share??? Is this a typo?? <G>.
Friday, January 14, 2000
Yahoo Japan To Absorb Softbank's Web Site, Data Providers
TOKYO (Dow Jones)--Yahoo Japan Corp. (4689) will absorb Softbank Corp.'s (9984) Web site and data providing subsidiaries on March 1 to expand and diversify its Internet business, Yahoo Japan said Friday.
Yahoo Japan, a web portal joint venture between Softbank and Yahoo! Inc. of the U.S., will absorb GeoCities Japan Corp., a free-of-charge Web site provider, and broadcast.com japan KK, a provider of online audio and animated pictures.
Combining Yahoo Japan and GeoCities services would create an audience rating of 83.3% of all Japanese Internet users, Yahoo Japan said, citing data provided by a private research firm which counted Internet users accessing Yahoo Japan and/or GeoCities services at least once in four weeks.
GeoCities shareholders will receive 100 Yahoo Japan shares for every 25 GeoCities shares, while broadcast.com japan shareholders will receive 1,000 Yahoo Japan shares for every broadcast.com japan share.
Softbank has a 58.2% stake in GeoCities, and Yahoo Japan holds the remaining 38.8%. Softbank holds a 54.2% stake in broadcast.com japan, with broadcast.com inc. holding 44.2% and Yahoo Japan holding 1.55%. |
