Report: PointCast Shopping For A Buyer
[2:00PM] Onetime Internet hotshot PointCast, who just last month filed for
an initial public offering, could wind up in the hands of a major media
company instead of Wall Street's, reports say. Business Week, citing
sources familiar with the situation, reports that the push vendor is
shopping itself around to major media companies. But why at a time when
it's just about to go public? Business Week's sources explain: "Fifty
percent of the reason for the filing was to raise the visibility of the
company to potential acquirers. PointCasts' assets aren't maximized by
being a stand alone." Given its key-content partnerships and following in
the corporate market, Business Week said the company could be a good buy.
Interestingly, it was just last year that Rupert Murdoch's News Corp.
allegedly made an offer to buy PointCast. However, then president and CEO
Chris Hassett turned down the reported $500 million bid, electing to
instead keep the company independent.
Tim
--Nothing can stop me now cause I don't care anymore. NIN
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<bold>Report: PointCast Shopping For A Buyer
</bold><color><param>FFFF,0000,0000</param>[2:00PM]</color> Onetime Internet hotshot PointCast, who just last month filed for an initial public offering, could wind up in the hands of a major media company instead of Wall Street's, reports say. Business Week, citing sources familiar with the situation, reports that the push vendor is shopping itself around to major media companies. But why at a time when it's just about to go public? Business Week's sources explain: "Fifty percent of the reason for the filing was to raise the visibility of the company to potential acquirers. PointCasts' assets aren't maximized by being a stand alone." Given its key-content partnerships and following in the corporate market, Business Week said the company could be a good buy.
Interestingly, it was just last year that Rupert Murdoch's News Corp. allegedly made an offer to buy PointCast. However, then president and CEO Chris Hassett turned down the reported <bold>$500 million bid</bold>, electing to instead keep the company independent.
Tim
--
Nothing can stop me now
cause I don't care anymore. NIN
<<> tbyars@earthlink.net <<>
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