Yahoo bid rumour boosts Broadcast.com share price
Portal giant to snap-up content provider
The world's leading portal, Yahoo!, is poised to make a bid for Broadcast.com, the online sport, news and music provider. Speculation over the bid has pushed Broadcast.com's market value up to around $3.9 billion, as its share price jumped by an impressive 37 per cent yesterday on Nasdaq. By turn, Yahoo! saw its share price fall. Talk of the takeover bid first surfaced in Business Week. It would make sense for Yahoo! to consider such a move as it, like all the portals, is keen to bolt new features to its service. The idea being that users will stay on Yahoo! for longer rather than use it as a first point of call on their way to other services. Broadcast.com is big in the business-to-business information market, which will be another attraction for Yahoo! which has been traditionally viewed as a home users' service. ®
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