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Yahoo to Buy Broadcast.com
Portal will snap up Web multimedia service in a $5.7-billion stock swap.
Yahoo, which has been acquiring companies and launching new services in a bid to round out offerings on its mega-portal, said the acquisition will allow it to expand streamed audio and video content. In addition, it will allow Yahoo to provide Web advertisers and business partners with audio and video streaming solutions.
Pending regulatory and shareholder approval, Yahoo expects to complete the acquisition of broadcast.com in the third quarter of 1999.
The two companies will formerly announce the deal at noon eastern standard time.
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