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.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (24796)	3/31/1999 6:01:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 50167

Judy i already own it sweets...shares....got M Schurr in it too...i listen to Mikey too.......:>} i don't need to know nuttin".... now after reading this, i think YHOO does better than BCST... 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. BCST NASD Last Chg. 118 3/16 +4 13/16 % Chg. Vol. +4.24% 1,727,600 Day Lo. Day Hi. 113 1/2 119 3/4 Open Prev. 114 1/8 113 3/8 As of Mar 31/99 5:51 pm ET Last Trade Mar 31/99 4:00 pm ET 15 MIN. DELAY 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. Today on CBS MarketWatch Stocks stumble to finish line Silicon Graphics issues warning Pepsi Bottling stock below IPO price Crude sector higher on supply reports Snacking at the Warren Buffett More top stories... CBS MarketWatch Columns Updated: 3/31/99 5:40:40 PM ET 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. For more breaking news, visit our Front Page. Also, search our news archives: Ticker Keyword (For more options use our Advanced Search)