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To: Henry Niman who wrote (20642)	3/31/1999 5:31:00 PM
From: rodney beasley	Read Replies (1) \| Respond to of 27307

how did yhoo stock react on geo deal??anyone know?

To: Henry Niman who wrote (20642)	3/31/1999 5:36:00 PM
From: tonyt	Read Replies (1) \| Respond to of 27307

Instead of spam, why not news? No need for us to go to bionetcognuisance.com, read it here: Yahoo! to Acquire Broadcast.com In Stock Swap Valued at $4 Billion An INTERACTIVE JOURNAL News Roundup Yahoo! Inc. said it agreed to acquire Broadcast.com Inc. for $4 billion in stock, a deal that could quicken the pace of audio and video usage on the Web. Shares of Broadcast.com, a Dallas Internet broadcaster, surged last week amid speculation about just such a deal, followed by news that talks were indeed being held. On Wednesday, Broadcast.com's stock closed up $4.8125 to $118.1875 on the Nasdaq Stock Market, while Yahoo shares declined $3.9275 to $168.375. The deal was announced after the close of trading. Yahoo, which has grown from an Internet directory into a broad portal for information and commerce, had become increasingly eager to solidify its position on the Internet as powerful competitors began to consolidate and launch challenges. People close to the situation said last week that the talks were being spearheaded by Yahoo co-founder Jerry Yang and President Jeff Mallett -- in order to further extend the Santa Clara, Calif., company's network of branded media sites. Another motivation: the need to line up partners as high-speed interactive services -- which include audio, video and other multimedia data -- become a reality. Internet, telephone and cable-TV companies are all racing to offer such services to a wider audience. Yahoo's marketing muscle could accelerate acceptance of services pioneered by Broadcast.com, which uses the Internet to relay audio and video programming from radio stations, sporting events and corporate meetings. People familiar with the talks said last week that one worry for Yahoo was that the company's profits -- rare in the Internet world -- would be eroded by money-losing Broadcast.com. Until it moved to acquire GeoCities Inc., a community of Web sites that Yahoo agreed to buy this year in a multibillion-dollar stock swap, Yahoo had been regarded as being a cautious deal maker, and had considered some acquisition opportunities that ultimately went to other companies. But a flurry of Internet deals late last year and the broader industry trends toward consolidation made Yahoo more aggressive. Yahoo has an existing relationship with Broadcast.com similar to one it had with GeoCities: More than a year ago, Yahoo signed a distribution deal with Broadcast.com and took a minority position in the company, then called AudioNet, for $1,350,000. Broadcast.com went public in July and has seen its shares soar since then. But the company has sustained only losses in its efforts so far, including a 1998 loss of $14.9 million on revenue of $22.4 million. It derives about two-thirds of its revenue from business services, such as hosting a video conference of a company's sales meeting over the Internet. The company started in 1995 when Todd Wagner, an attorney, and Mark Cuban, a computer-networking executive, learned about RealNetworks Inc.'s software for transmitting audio signals over the Internet. They decided they would help radio stations put their broadcasts online, initially trading their service to radio stations for the right to sell a few minutes of on-air advertising a day. Web banner ads later supplemented their revenue. By the time the company went public in July, it had signed up more than 300 radio stations and locked in exclusive contracts to transmit most major college athletic events along with several pro sports. Even then, however, Broadcast.com's business services were beginning to surge as corporations recognized they could save thousands of dollars by holding a meeting via an Internet audio conference rather than a phone-company conference call. Broadcast.com continued to explore new services, including the transmission of movies straight from a Hollywood studio through an agreement last month with Trimark Holdings Inc., a Santa Monica, Calif., film producer. Broadcast.com also recently garnered a lot of media attention from its Web broadcast of lingerie retailer Victoria's Secret's fashion show.

To: Henry Niman who wrote (20642)	3/31/1999 5:54:00 PM
From: tonyt	Read Replies (1) \| Respond to of 27307

More News (sans spam): Yahoo, Broadcast.com said to be close to $4 billion deal By Bambi Francisco, CBS MarketWatch Last Update: 5:38 PM ET Mar 31, 1999 Silicon Stocks SAN FRANCISCO (CBS.MW) -- Yahoo will acquire Broadcast.com for $4 billion in the third-biggest cyber marriage ever, according to news reports. Yahoo (YHOO) made no formal announcements but told CNBC the reports were "premature." The financial news station said the long-expected transaction would be formally announced at a news conference Thursday in San Francisco. The price of the transaction is $4 billion, according to Dow Jones Newswires. That would be equal to about $117 a share. Word that Yahoo was courting Broadcast first emerged more than a week ago. Shares of Broadcast.com spiked 37 percent to 116 1/2 on March 22, giving Broadcast a $3.9 billion stock market valuation. Yahoo stock slipped 5 to 165 that day. On Wednesday, Broadcast.com (BCST) rose 4 13/16 to 118 3/16, more than a dollar more than the reported bid. Shares of Yahoo fell 3 15/16 to 158 3/8. The purchase would follow only America Online's (AOL) takeover of Netscape (NSCP) and At Home's (ATHM) acquisition of Excite (XCIT) in size. It could lead to another surge in Internet shares on Thursday; big acquisitions often fuel expectations for more acquisitions. Broadcast.com has established itself as the dominant portal for multimedia audio and video content over the Internet. As a branded product offering under the Yahoo umbrella, the portal signifantly enhances its depth and breadth of services. Analysts have been concerned that Yahoo would be challenged to grow its services fast enough internally. Investment bankers have noted that Broadcast.com was in a better negotiating position and that Yahoo would have to pay the rich price. Broadcast.com is the leader in offering rich media content which is seen as the next wave of the Internet. Last week, Yahoo's chairman and CEO Tim Koogle said that buying growth, buying market share, and buying brand is key for the portal, even if it taks diluting the company's rich stock, one more time. While many agreed that the combination is strategic and logical, the price Yahoo's willing to pay could present a stumbling block. Koogle, who has declined to comment whether or not his company was courting Broadcast.com, said he's focused on strategic acquisitions and will pay up only if "we can make the numbers work." He said that Yahoo will "buy growth and buy accretion." But Koogle's definition of accretion means not squeezing out profits for some time. "We try to make deals that turn neutral to accretive within 3 to 9 months." "If we're numbering these companies five to ten years from now," said Bruce Smith, Internet analyst at Jefferies & Co. "As long as it's accretive in two to three years - I'll be happy," Jefferies added. "It's not important whether there's any immediate negative impact on earnings." Bambi Francisco is Internet editor for CBS MarketWatch.