Yahoo! completes acquisition of broadcast.com

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Yahoo!, Santa Clara, Calif., completed the acquisition of broadcast.com, a site that aggregates streaming audio and video programming.

Yahoo! agreed to buy broadcast.com last March in all-stock deal valued at approximately $4.8 billion at the time, or $5.7 billion with stock options.

With broadcast.com integrated into Yahoo!'s offerings, Yahoo! said it would be able to offer more audio and video content to its users in areas such as Yahoo! News, Yahoo! Auctions and Yahoo! Sports, as well as offer these rich media options to advertisers and Yahoo! merchants. Yahoo! plans to integrate broadcast.com's services in the fall.

Broadcast.com will continue to operate its site, but the company will be known as Yahoo! Broadcast Services and remain located in Dallas. Mark Cuban, chairman and president of broadcast.com, and Todd Wagner, CEO of broadcast.com, have been named Yahoo! VPs.

Copyright July 1999, Crain Communications Inc.

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