Broadcast.com (Acquired by Yahoo) Message Board

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Technology Stocks : Broadcast.com (Acquired by Yahoo)

YHOO 52.58

0.0%

Jun 26 5:00 PM EST

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To: sam who wrote (1078)	3/31/1999 6:45:00 PM
From: Indra H	Read Replies (1) of 1260

wsj correction from 4 B to 5.7B Yahoo! Strikes Tentative Deal To Acquire Broadcast.com An INTERACTIVE JOURNAL News Roundup Yahoo! Inc. has struck a tentative agreement to acquire Broadcast.com Inc. in a stock swap valued at $5.7 billion, people familiar with the situation said late Wednesday. According to those sources, Yahoo has agreed to offer $130 a share for the 44 million outstanding shares of Broadcast.com. The two companies' boards were scheduled to meet Wednesday to approve the deal, with an announcement expected Thursday. Shares of Broadcast.com, a Dallas Internet broadcaster, surged last week amid speculation about just such a deal, followed by news that talks were indeed being held. On Wednesday, Broadcast.com's stock closed up $4.8125 to $118.1875 on the Nasdaq Stock Market, while Yahoo shares declined $3.9275 to $168.375. Company Profile: Yahoo! Yahoo, which has grown from an Internet directory into a broad portal for information and commerce, had become increasingly eager to solidify its position on the Internet as powerful competitors began to consolidate and launch challenges. People close to the situation said last week that the talks were being spearheaded by Yahoo co-founder Jerry Yang and President Jeff Mallett -- in order to further extend the Santa Clara, Calif., company's network of branded media sites.

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