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Report: Broadband Subscribers to Surpass Dial-Up by Late 2006

Authored by Mark Hefflinger on August 2, 2004 - 9:15am.
Washington, D.C. -- By late 2006, more people will be using broadband Internet connections in the U.S. than dial-up services, according to new figures from the Yankee Group. The milestone had been forecast to occur later, but the firm said that the number of DSL subscribers has grown faster than previously expected. "We forecast that by year-end 2008, there will be more than 52 million broadband households," said Patrick Mahoney, an analyst at Yankee. "The 2004 forecast is marginally higher than the 2003 forecast, because of slightly higher than expected take rates, as well as continued low pricing by DSL, increased speeds and availability." Comcast, the largest U.S. cable TV operator, led all broadband providers with 5.7 million subscribers at the end of the first quarter, while SBC led the DSL category with just under 4 million.
tags: Broadband | Subscribers | Report | Surpass | Dial-Up |

Viacom to Acquire Sports News Site SportsLine.com for $46 Million

Authored by Mark Hefflinger on August 2, 2004 - 3:57am.
New York -- Media conglomerate Viacom, which owns CBS, MTV Networks, Paramount Pictures, Blockbuster and other companies, announced on Monday that it has signed an agreement to acquire SportsLine.com, the Internet sports news site partnered with its CBS network, for about $46 million. An initial Viacom buyout offer for about $39.8 million was rejected by SportsLine.com's shareholders, who must still grant approval of the current deal. Fort Lauderdale, Fla.-based SportsLine.com reported a loss of $37.7 million last year on revenues of $58 million.
tags: Sports | Viacom | Website | SportsLine.com |

Owners Offer $7.9 Billion to Take Cable TV Firm Cox Private

Authored by Mark Hefflinger on August 2, 2004 - 3:57am.
Atlanta -- Cox Enterprises, which owns cable TV operator Cox Communications as well as other media and automotive companies, announced on Monday plans to take the nation's No. 4 cable TV business private, by purchasing the 38% stake it doesn't already own for $7.9 billion. Cox Enterprises has offered $32 per share for the outstanding stake, a value 16% above the stock's closing price on Friday. "An increasingly competitive environment convinces us that future investments in the cable industry are best made through a private company structure," said Cox Enterprises CEO James C. Kennedy. The transaction will require the approval of a special committee of Cox Communications' independent directors.
tags: Cable TV | Owners | Cox Private |

Google Launches IPO Website, Begins Registering Prospective Investors

Authored by Mark Hefflinger on August 2, 2004 - 3:54am.
Mountain View, Calif. -- Search engine giant Google has launched the website that will host the public auction of shares for its upcoming initial public offering (IPO), expected to raise up to $3.3 billion. Potential investors may now visit the sit and register for an identification number to participate in the auction, as well as declare the number of shares they wish to buy and the price they are willing to pay for them. Google has said that it chose the more unorthodox public auction process for its IPO in order to put smaller investors on more equal footing with large investors. Mountain View, Calif.-based Google said in an SEC filing that it expects its shares to sell for between $108 and $135 per share.
tags: Google | Investors | IPO Website | Registering | Prospective |

MovieTickets.com to Fulfill Online Ticket Sales for AOL's Moviefone

Authored by Mark Hefflinger on August 2, 2004 - 3:53am.
Los Angeles -- In a deal that will effectively combine two of the industry's rivals, America Online's Moviefone showtimes and reviews site announced that it has partnered with rival MovieTickets.com to provide ticket sales for both its online and 777-FILM telephone services. As a result, Moviefone and MovieTickets.com now provide advance online movie ticket sales for 32 theater chains, double the amount of its nearest competitor, Fandango. The companies cited Feedback Research data in estimating that they will now account for 57% of all Internet movie ticket sales. In a separate announcement, Los Angeles-based MovieTickets.com said it signed an agreement to provide online ticket sales for Pacific Theaters, which owns 400 movie screens in Los Angeles, San Diego and Hawaii.
tags: Internet | Movies | Website | Tickets.com | AOL's Moviefone |

Internet Use in U.K. Rises Sharply This Year, Report Says

Authored by Mark Hefflinger on August 2, 2004 - 3:51am.
London -- According to the latest study by market research firm Mintel, growing interest in the Internet among so-called "silver surfers" and a boom in broadband coverage has led to a marked increase in the number of Brits online over the last few months. Mintel said 57% of British adults now use the Internet -- a 7% increase compared to last month. Nearly 50% of those surveyed said they use the Internet at home, while about 30% said they use the Internet at their work or place of study. The study also found that about 65% percent of 45- to 54-year-olds are now using the Internet, a 35% increase compared to the same period three years ago. What's more, for the first time ever, there are now as many 45- to 64-year-olds online in the U.K. as 15- to 34-year-olds. Mintel predicted that as many as 67% of adults in the U.K. would be online by the year 2006.
tags: Internet | VC | Reports | U.K |