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Live quarterly reports
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December 9, 1998: 1:36 p.m. ET
Broadcast.com and Nasdaq ink deal to provide earnings conference calls
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DALLAS, Texas (CNNfn) - In a move that will increase the access investors have to information about companies, Broadcast.com has inked a deal with Nasdaq to provide live quarterly earnings conference calls in a pilot program for Nasdaq-100 companies.
Anyone with a computer and a modem will be able to listen in on a company's quarterly earnings report, live or at a later time, on Broadcast.com and on the Nasdaq-Amex website.
Companies will be invited to join the pilot program in early 1999, when Broadcast.com will begin providing the conference calls.
The company did not disclose the financial terms of the partnership in its prepared statement, and company officials were unavailable for comment.
Each company which joins the pilot program will offer up to four live audio broadcasts of quarterly earnings calls per year. Broadcast.com will oversee the conference calls within its website, and will promote the new service to its roughly 500,000 daily visitors.
"This pilot program is an opportunity to introduce our companies to investors through Internet broadcasting," Nasdaq president Alfred R. Berkeley III said. "It will help to level the playing field for individual investors by giving them access to the same information previously available only to a select few on Wall Street."
"We would like to see Internet broadcasting become a standard corporate communications tool for public companies in the near future, and are pleased to experiment with this new technology in partnership with Broadcast.com," he added.
Shares of Broadcast.com [BCST] skyrocketed 9-1/8 to 63-7/8 in late morning trading.
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