By: Editorial Staff
Yahoo! Inc., one of the most popular portal Web sites on the Internet, is buying Broadcast.com Inc. in a $5.7 billion stock deal that is seen as a key addition to the company’s growing family of services that already includes free e-mail and personalized news.
“Broadcast.com’s tremendous first-to-market advantage has made it the leading destination on the Web for audio and video broadcasts, and it will provide significant added value to Yahoo!’s audiences worldwide,” says Tim Koogle, chairman and CEO of Yahoo!.
Founded in 1995, broadcast.com is the leading broadcaster of streaming media programming on the Web with the ability to deliver hundreds of live and on-demand audio and video programs over the Internet to hundreds of thousands of users.
The company broadcasts audio and video programming from television and radio stations and networks such as BBC World Service, A.H. Belo Corp., CNN Audioselect, and Granite Broadcasting; college and professional sports organizations such as Major League Baseball and the National Hockey League; and full-length CDs, films, and audiobooks