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

To: $Mogul who wrote (65667)	4/1/1999 4:55:00 AM
From: 2MAR$	Respond to of 119973

Yahoo! To Acquire Broadcast.com By NOELLE KNOX .c The Associated Press NEW YORK (AP) -- Yahoo! Inc. is expected to announce today it will acquire Broadcast.com Inc. for $5.6 billion in stock, adding the Internet's leading supplier of radio and video programs to Yahoo!'s growing array of services. According to a source familiar with the deal, Yahoo! will pay $130 a share for Broadcast.com's stock, a 10 percent premium over Wednesday's closing price of $118.18 3/4 on the Nasdaq Stock Market. Shares of Broadcast.com had run up in recent days on reports the two companies were talking about a deal. Broadcast.com investors will receive .77 of a Yahoo share for each Broadcast.com share. Broadcast.com is perhaps best known for its Web broadcasts of John Glenn's second launch into space and the Victoria's Secret fashion show. But the company's services are expected to grow in popularity as connections to cyberspace get faster and easier. The acquisition ''really positions Yahoo! to play a defining role as we see the rise of audio and video content on the Web,'' said Paul Noglows, a San Francisco-based analyst with Hambrecht & Quist. ''From Broadcast.com's perspective, it will make their services available to a much broader range of users, considering Yahoo! attracts 50 million unique users to its site a month.'' Founded in 1994 by Stanford University doctoral candidates David Filo and Jerry Yang, Yahoo! is one of the premier destinations on the Internet. The company's turbocharged stock, which has risen 264 percent in the past 12 months, has turned into a currency to snap up rivals. But Broadcast.com wasn't cheap. The Dallas-based firm, which went public in July, has seen its shares rise 1,213 percent in just eight months. A spokeswoman for Yahoo! declined comment. Repeated calls to Broadcast.com were not returned. This is Yahoo!'s second major deal this year. The Santa Clara, Calif.-based company announced the $4.58 billion acquisition of GeoCities Inc. in January. GeoCities, based in Los Angeles, is the No. 5 Web destination and has been used by more than 3 million people to set up home pages where they can publish their writings, post their family photos or try to sell things. The Internet industry is both expanding and consolidating at a rapid pace. New companies go public almost daily and quickly become targets or suitors in corporate takeovers. Companies like Yahoo!, America Online Inc. and Lycos Inc. are just a few of the firms looking for strategic acquisitions that reflect the integration of computer, television and telephone services with information and media. And Yahoo! may be back on the hunt soon. ''It's clear that the Web has been in a race for market share since the beginning,'' said Steve O'Leary, a managing director at Broadview International, a merger advisory firm. ''I wouldn't be surprised to see Yahoo! announce more bold strokes in the future.'' AP-NY-04-01-99 0144EST