Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Ojing Eo who wrote (10)	7/13/1998 12:53:00 PM
From: Francis Gaskins	Respond to of 1260

"Broadcast.com star of light IPO week", By Darren Chervitz, CBS MarketWatch Last Update: 11:27 AM July 13, 1998 NEW YORK (CBS.MW) -- Fledgling Internet media concern broadcast.com highlights what will otherwise likely be a light, uneventful week in the new issue market. Dallas, Texas-based broadcast.com, the leading provider of streaming media content on the Internet, expects to sell 2.5 million shares at $11 to $13 each in the upcoming offering. Morgan Stanley Dean Witter is the lead underwriter for the company, which changed its name from AudioNet when it filed for an IPO. Broadcast.com, which generated $3.2 million in the first quarter of the year and $6.9 million in all of 1997, will be valued at about $202.6 million after the completion of the IPO, not including outstanding options. In addition to offering entertainment programming, such as live sports events, the company has also been growing its business of handling special media streaming assignments for corporations, such as stockholder meetings or conferences. RealNetworks (RNWK), which went public last fall, is the company's most notable competitor. Analysts expect broadcast.com to do well when it opens for trading. John Fitzgibbon, editor of the IPO Reporter, sees the stock notching at least a two point premium above its offering price. Internet deals have been the IPO market's sure thing so far this year. Even during its recent slump, winners have inlcuded software.net (SWNT) and NetGravity (NETG). GeoCities, the online community, is expected to price next week in another highly anticipated Internet-related deal.