America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: chenys who wrote (3112)	5/14/1997 11:10:00 PM
From: Johnathan R. Bowden	of 13594

qy, I'm a Navy man myself, but I think all will enjoy this tidbit from the WSJ: NEW YORK (Dow Jones)--AT&T Corp. (T) is the owner of about 365,000 shares of America Online Inc. (AOL) stock that have been placed with Alex. Brown & Sons Inc. for a private sale. An America Online spokeswoman said AT&T acquired the shares in a stock deal in August when the on-line service purchased ImagiNation Network Inc. from the telephone giant. AT&T had acquired the online games and entertainment company in 1994. The financial terms of the America Online deal were not disclosed. AT&T did receive shares as part of the deal and America Online is selling the shares at AT&T's request, an AT&T spokeswoman said. She declined to provide further details. Several analysts said they believe the deal was worth about $14 million in America Online stock. The current value of the 365,000-share block of America Online would be more than $17.5 million, but market sources said the stock was being sold for a discount. Market talk about a private placement of America Online shares first surfaced late Tuesday and intensified today. Some short sellers and other market sources said they had heard rumors that America Online was selling its own holdings in an effort to raise money because of a shaky financial situation or to amass cash to purchase CompuServe Inc. (CSRV). CompuServe introduced new marketing and strategy plans for its service on Tuesday, which some market observers said indicated that the deal with America Online was dead for now. I like the line that AOL is trying to raise cash... Regards, John

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