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Technology Stocks : Broadcast.com (Acquired by Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: RX4PROFIT who wrote (9)	7/13/1998 8:01:00 PM
From: Francis Gaskins	Respond to of 1260

"Broadcast.com hopes to revive IPO market's romance with the Web" CNNFN, digital data, July 13, 1998: 2:50 p.m. ET NEW YORK (CNNfn) - Last week's heart-stopping seesaw performance in the Internet sector was enough to keep online companies in the IPO spotlight for some time, with enthusiasm filling six out of the seven best-performing offerings of the year with 'Net-related stocks. One of the secrets of success for the typical Internet IPO is high demand and low supply. Since most Internet stocks are closely held by employees and other start-up insiders, only a small percentage of existing shares is traded on the public market, driving scarcity and lifting prices. Internet offering de jour Barring a broader market fallout or another serious bout of Asian economic jitters, Broadcast.com (proposed ticker symbol: BCST) is almost certain to get some mileage out of the continuing Internet zeal. Broadcast.com offers audio and video programming, including sports, talk and music radio, television, business events - all for free and on demand via the Internet. Formerly known as Audio Net, the company shed its music-only image by changing its name to Broadcast.com back in May, underscoring the importance of brand recognition in the race to capture an online audience. "If they're out there now, people are starting to bookmark the sites, " said Ken Fleming, IPO analyst at Renaissance Capital, an IPO and mutual fund research firm. "They want to be a major destination on the Web." Still other analysts worry that Broadcast.com may be trounced when larger media companies extend their franchises onto the Web. Fleming's upbeat assessment of Broadcast.com is based mostly on the grounds of "hot stock by Internet-association" and not so much on the company's fundamentals or prospects - and even he stopped short of holding out hope of an Inktomi-style (INKT) performance. However, if online sports broadcaster Sportsline.com is a reasonable gauge, Broadcast.com's stock should be well received. Sportsline.com (SPLN) is up 300 percent this year, and at its current capitalization-to-revenues ratio is trading well above Broadcast.com's prospective price. Broadcast.com is set to float 2.5 million shares at $11-$13, giving it a market capitalization of about $215 million on an accumulated deficit of $12 million and estimated 1998 revenues of $13.5 million.