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Finance

FINANCE NEWS: INSIDE SFX'S ACQUISITION OF HENDRICKS SPORTS

          The SPORTSBUSINESS JOURNAL's Josh Gotthelf reports that
     SFX Entertainment paid $15.7M "in cash" to Randy and Alan
     Hendricks for their firm in June, and the two could receive
     "up to an additional" $5M over the next five years
     (SPORTSBUSINESS JOURNAL, 9/13 issue)....SportsLine USA has
     acquired MI-based tennis equipment retailer TennisDirect.com
     for $1.5M, consisting of $770,000 of SportsLine USA stock
     and the remainder a combination of cash and assumed debt. 
     SportsLine USA also agreed to issue additional stock, valued
     at up to $900,000, to TennisDirect.com shareholders if
     select revenue targets are met over the next two years. 
     TennisDirect.com co-Founders Greg and Chris Backus will
     operate the Web site as a SportsLine USA subsidiary within
     SportsLine's Ft. Lauderdale offices (SportsLine USA).

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