PointCast says: We want to stay independent

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PointCast CEO Chris Hassett issued a statement Tuesday insisting that the company wishes to remain independent. The statement was in response to published reports that News Corp. was negotiating to acquire PointCast, a pioneer in Internet push technology. While Mr. Hassett didn't deny that his company has been approached about acquisition offers, he stated that "To date, PointCast has amply financed its growth through revenues and by raising $48 million in private funding. We are focused on growing the business and on serving the needs of our valued viewers, corporate customers, media affiliates and investors. As PointCast continues to innovate and lead the Internet broadcast market, we may also consider the availability of capital in the public market."

Copyright March 1997, Crain Communications Inc.

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