TBS Sees Uptick In Wild Card Rating FCC Could Ban Stations From Using "Redskins" CBSSN Airs Debut Of "We Need To Talk" Glut Of NFL Games Affecting Ad Rates Dish Dropping ESPN Classic For VOD Service Epix Going Heavy On Digital With NHL Media Notes FCC Ends Its Sports Blackout Rule "MNF" Sees Slight Overnight Ratings Dip SportsNet LA Impasse Could Be Turning Point
Upcoming Conferences and Events
SPORTSLINE USA LOOKS TO SELL $40M IN STOCK VIA IPO
Published April 17, 1997
SportsLine USA filed with the SEC for an IPO yesterday, and will try to sell $40M of stock, according to David Poppe of the MIAMI HERALD. While SportsLine USA didn't reveal how many shares it would sell, or provide a price for the stock, Poppe notes SportsLine USA "almost certainly envisions" selling a minority of its 25.3 million outstanding shares. The company has issued warrants to business partner CBS to buy stock over the next five years at prices ranging from $4-12, and at the $8 mid-range of that price SportsLine USA could raise $40M by selling five million shares to the public, giving new investors less than 17% ownership and giving the company a stock market valuation in excess of $240M (MIAMI HERALD, 4/17). Shares will trade on the NASDAQ market under the symbol SPLN (Bloomberg/N.Y. POST, 4/17). J.D. SIGNS UP: Hockey analyst John Davidson signed a three-year deal with SportsLine USA's site on the World Wide Web, CBS SportsLine, which includes Davidson answering e- mail and contributing to SportsLine radio (SportsLine USA).