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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Spartex who wrote (27092)	6/2/1999 10:29:00 AM
From: Spartex	Respond to of 42771

BNYN scores with CBS! Are we (NOVL) out there? CBS to Acquire 35% of Switchboard, Inc., A Leading Internet Directory Service, for $135 Million in Promotion and Branding CBS Continues New Media Expansion with CBS Switchboard.com Banyan Systems' Majority-Owned Internet Subsidiary to be Promoted Across Wide Range of CBS Properties NEW YORK and WESTBORO, Mass., June 2 /PRNewswire/ -- CBS Corporation (NYSE CBS - news) and Banyan Systems Incorporated (Nasdaq: BNYN - news) today announced a definitive agreement for CBS to acquire a 35% equity stake in Switchboard, Inc. In exchange, Switchboard will receive $135 million of promotion and branding over a term of seven and 10 years, respectively, across the full range of CBS media properties, as well as those of its radio and outdoor subsidiary, Infinity Broadcasting Corporation (NYSE: INF - news). Additionally, CBS will receive warrants for an additional five percent of the company, which would increase CBS's ownership position to 40% of Switchboard. Representatives of CBS Corporation will join Switchboard's board of directors. CBS will also receive warrants to purchase 250,000 shares of Banyan's stock. biz.yahoo.com