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.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Frost Byte who wrote (46506)	1/25/1999 2:10:00 AM
From: Teri Garner	Read Replies (1) \| Respond to of 119973

Softbank, Broadcast.com Join to Offer Programming Over Internet Mon, 25 Jan 1999, 2:00am EST Softbank, Broadcast.com Join to Offer Programming Over Internet Tokyo, Jan. 25 (Bloomberg) -- Softbank Corp., a Japanese software wholesaler with stakes in several U.S. online companies, said it will establish a joint venture this month with Broadcast.com Inc. of the U.S. to provide entertainment programming in Japan over the Internet. The venture, to be capitalized at 550 million yen, will be owned 50 percent by Softbank, 40 percent by the Dallas, Texas- based Broadcast.com and 10 percent by Yahoo! Japan Corp., according to a statement released by the companies. Softbank, Japan's largest distributor of personal computer software, owns 31 percent of Yahoo! Inc., the No. 1 Internet directory. Softbank and Yahoo! founded Yahoo! Japan Corp., a Japanese version of the popular directory, in 1997. The companies said the service will be a good medium for advertising. The statement did not say when the new company would begin broadcasting over the net. Broadcast.com offers, sports, news, music and information over the Internet around the clock, giving users their choice of 345 radio stations and 17 television stations and cable networks. Shares in Japanese Internet-related companies including Softbank have posted sharp gains in recent weeks on the backs of their U.S. counterparts. Softbank shares gained 100 yen to 7,750 in Tokyo trading today after tumbling 10 percent Friday, following an overnight drop by the technology-heavy Nasdaq Composite Index. The company's shares are still up about 14 percent since the start of the year and 56 percent in the last three months. The company reported in November that profits for the six months through September rose 39.1 percent to 3.2 billion yen ($28 million). It offset declining sales by its U.S. publishing unit by selling some of its shares in companies, including Yahoo!. Broadcast.com, traded on the U.S. Nasdaq, soared 27 3/4, or 26 percent, to 136 1/4 on Friday.