This Day In Market History, April 1: Mark Cuban Sells Broadcast.com To Yahoo!

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Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened? On this day in 1999, Yahoo! acquired Broadcast.com for $5.7 billion.
Where The Market Was: The Dow finished the day at 9,832.51. The S&P 500 finished at 1,293.72.
What Else Was Going On In The World? In 1999,
Walmart Inc (NYSE: WMT) purchased U.K. supermarket chain ASDA. The U.S. saw its first cases of the West Nile virus. The average annual U.S. income was $40,810.
Cuban Cashes Out: Broadcast.com was founded under the name AudioNet in September 1995 by Christopher Jaeb. Later that year, entrepreneur Mark Cuban took a sizable stake in the company. Broadcast.com was an internet sports radio company that allowed internet users to listen to radio broadcasts of out-of-town sports games online.

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