Audio and Radio on the Internet- NAVR Message Board

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Technology Stocks : Audio and Radio on the Internet- NAVR

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To: blake roberts who wrote (1661)	12/7/1998 5:05:00 PM
From: Kip518	Read Replies (1) of 27722

Navarre Up 39%;Possible Spinoff Of NetRadio Unit Cited Dow Jones Newswires By Nancy Beiles NEW YORK (Dow Jones)--Navarre Corp. (NAVR) shares surged nearly 40% Monday as word filtered through the market that the company intends to spin off its NetRadio unit. Navarre's Internet radio business has been the darling of company watchers and the company is widely expected to spin off NetRadio in an initial public offering, a trader said. A company spokeswoman confirmed that Navarre will spin off NetRadio, but said the company has not yet registered a filing with the Securities and Exchange Commission on the matter. She declined to provide further details. In order to spin off NetRadio in an IPO, Navarre would have to file documents with the SEC detailing its plan and it might have to get shareholder approval for it depending on how the deal is structured. Given the current investing milieu, in which businesses with even a marginal connection to the Internet have seen their stocks catapult to lofty levels, an IPO of NetRadio, an Internet radio network, would likely attract strong interest. But, investors may do well to show some caution. In announcing its results from the September quarter, Navarre had said its operating expenses increased more than 50% from last year primarily because of costs associated with NetRadio. The company did not specify what portion of its $54.8 million in sales or $1.4 million loss for that period was attributable to NetRadio. Navarre shares were recently trading at 11 1/16, up 3 3/16, or 40.5%, on volume of 6.3 million shares. Average daily volume for the Nasdaq shares is 1.5 million. - Nancy Beiles; 201-938-5393

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