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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: Rick McDougall who wrote (3828)	11/27/1998 12:56:00 AM
From: Baghul	Read Replies (1) \| Respond to of 8307

Your can add NAVR on the list. They sell music and software on the net. Had some positive news on the IPO of Net Radio. The kicker is that as of last month 1 mil shares were shorted. Should be in action MINNEAPOLIS (CBS.MW) -- Thanks to a revived market for new issues, distributor Navarre Corp. is planning to soon file for an IPO of its NetRadio online music and commerce unit, Navarre's chief executive told CBS.MarketWatch.com on Wednesday. Shares of Navarre Corp. (NAVR) rose 13/16 to 5 7/8 on enthusiasm for Internet stocks, particularly in the e-commerce sector. See Net Stocks. Navarre first announced its intention to take NetRadio public in July, but those plans "slowed down when the market tanked," said Navarre CEO Eric Paulson. Paulson declined to comment on a specific timetable for the filing with the U.S. Securities & Exchange Commission, saying only that the company has hired an investment bank to handle the offering and is "working on [the filing] as diligently as possible." He declined to talk about other specifics of the IPO, including the name the banker working on the offering and the percentage of NetRadio Navarre plans to sell to the public. New commerce initiative In the past month, NetRadio has upgraded its www.netradio.com site to integrate content with a www.CDPoint.com commerce site. The company plans to launch a national $2 million cable advertising campaign. Home shopping cable channel ValueVision gave Navarre the ad time in return for a 15 percent stake in NetRadio earlier this year. NetRadio's site has attracted about 4 million unique listeners, said Paulson, who declined to discuss revenue numbers. "The revenue just started, but you'll see those number in the [IPO prospectus]," he said. Though Navarre shares are still about three times where they were at the beginning of the year, Paulson said the stock is being punished for its ownership of NetRadio. Money spent to develop the online sites have made the distributor unprofitable, which has upset the company's older value-oriented investors, he argued. "With an IPO, Navarre gets profitable. NetRadio gets financed, to the point so that it can become profitable and Navarre also gets a very tangible asset on its balance sheet," Paulson said. The distributor advantage NetRadio's close ties to Navarre will provide a big advantage over rivals like CDnow (CDNW), N2K (NTKI), Ktel (KTEL) and Amazon.com (AMZN), the executive said. Customer orders are automatically shipped to Navarre's fulfillment center, which can then quickly get the product to the customer. "The cost advantage of not having to buy from a third-party distributor is huge." Earlier this month, Barnes & Noble announced plans to purchase its major distributor.tomorrow