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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: levy who wrote (23162)	1/9/2001 12:26:55 AM
From: sandintoes	Respond to of 28311

Nothing much to do with INSP, but a happening in Seattle. dailynews.yahoo.com Starbucks Chairman Mum on Sonics Sale SEATTLE (Reuters) - Starbucks Corp. (NasdaqNM:SBUX - news) Chairman Howard Schultz and media company Ackerley Group Inc. (NYSE:AK - news) on Monday declined comment on reports Schultz was set to buy pro basketball's Seattle Supersonics franchise. According to published reports, Ackerley, which bought the National Basketball Association team in 1983 for $11 million cash and $11 million in other compensation, will sell the Sonics to Schultz for $200 million. Seattle espresso king Starbucks said it would have no role in any potential sale and Schultz, who has been spotted chatting with Sonics players from his court-side seats, did not return a telephone call seeking comment. Schultz has worked with retired NBA legend Earvin ``Magic'' Johnson in the past to bring Starbucks' upscale coffee shops to inner city neighborhoods. The Starbucks chairman was paid about $800,000 in 2000 and holds nearly 7.5 million shares in the company. At Monday's Nasdaq closing price of 42-7/16, the shares would be worth over $300 million. Ackerley shares rose 1-11/16, or 17.9 percent, to close at 11-1/8 on Monday. Earlier the New York Stock Exchange (news - web sites) contacted the company about ``unusual market activity'' in its stock. Ackerly lost $6.2 million in the third quarter and has reportedly considered selling the money-losing Sonics and its Women's NBA franchise, the Seattle Storm, to pay down debt, which stood at $368 million at the end of September. In a statement, Ackerley said it continually evaluates strategic asset shifts, including acquisitions and divestitures.