A Busy Week for the Online Radio Biz
Last week saw a flurry of announcements in the online audio and video streaming business, capped off by <A HREF="http://www.yahoo.com">Yahoo!</A>'s acquisition of <A HREF="http://www.broadcast.com">Broadcast.com</A>. Yahoo! says it has signed a definitive agreement with Broadcast.com whereby Yahoo! will issue 0.7722 of a share of Yahoo! common stock for each share of Broadcast.com common stock. In addition, all outstanding options of Broadcast.com will be converted into Yahoo! options. The acquisition is expected to be completed in the third quarter of 1999 and is valued at around $5.7 billion, including $4.8 billion in Broadcast.com common stock and $900 million in stock options.