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Technology Stocks : Audio and Radio on the Internet- NAVR

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To: Annette who wrote (11914)	3/22/1999 12:04:00 PM
From: RDR	Read Replies (2) of 27722

News Bulletin NEW YORK (CBS.MW) - Shares of Broadcast.com are up sharply on reports Yahoo! is courting the Dallas-based provider of streaming audio and video for the Internet. Broadcast.com (BCST) rose 19, or 22.4 percent, at 104. Yahoo (YHOO) edged up 9/16 to 170 9/16. Yahoos is in talks to acquire Broadcast.com, according to a report in BusinessWeek Online. The report cites an unidentified source as saying Yahoo Chief Executive Officer Timothy A. Koogle and Yahoo co-founder Jerry Yang have been meeting with executive from Broadcast.com But Yahoo's not alone in courting Broadcast.com -- America Online (AOL) and NBC also may be in the race, according to the report. America Online shares slipped 11/16 to 118 9/16. Yahoo and Broadcast.com officials could not be reached for comment. But one analyst close to Broadcast.com said the company "would love to sell" and that Yahoo! is the most serious contender. At Broadcast.com's closing price on Friday of 85 per share, its market capitalization stands at $2.9 billion. At a 17 percent premium, or 100 per share, the company would be worth $3.4 billion. Broadcast.com may even fetch a pricetag as high as $140 to $150 per share, analysts said. "Even at a premium for Broadcast.com, the deal wouldn't be terribly dilutive for Yahoo," said Ryan Jacob who runs the Internet Fund. "Everyone is focused on scale right now." Yahoo's market capitalization as of Friday stands at $34 billion. In January '98, Yahoo, Intel and Motorola were primary investors in a round of financing that raised $22 million for Broadcast.com. Some analysts attribute the interest in Broadcast.com to the growth potential for audio and visual elements on the Internet.

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