Friday - May 9, 2008
Circuit City will allow Blockbuster and its largest shareholder, Carl Icahn, to look into the company's finances in connection with the video rental company's proposed buyout offer. Circuit City also revealed that it has hired Goldman Sachs to help the company look into strategic alternatives to build its shareholder value. Blockbuster announced in April it had offered to purchase Circuit City for $6 to $8 per share in February. Circuit City initially said it had concerns about Blockbuster's ability to finance such a buyout, and it refused to open its books to Blockbuster.
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Thursday - May 8, 2008
Warner Music Group, whose artists include R.E.M., Madonna and Green Day, said Thursday that higher costs and a shift to digital music resulted in a wider second-quarter loss, and it suspended dividends. Shares tumbled more than 20 percent, or $1.87, to $7.18 in morning trading. For the period ended March 31, the New York-based recording company reported a loss of $37 million, or 25 cents per share.
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Thursday - May 1, 2008
A federal judge has established a framework that determines the licensing fee amounts three online services -- Yahoo, AOL and RealNetworks -- should pay to the American Society of Composers, Authors and Publishers. The fees could amount to $100 million, according to ASCAP, and will be paid to members whose music users have streamed over a seven-year period.
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Wednesday - April 30, 2008
A federal judge's ruling against the Recording Industry Association of America not only represents a setback for the litigious trade group in one particular lawsuit, but also opens a Pandora's box of technicalities that could mean a few speed bumps ahead for its legal steamroller.
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Tuesday - April 29, 2008
You're sitting at home online and suddenly you get an irresistible urge. You absolutely have to belt out R. Kelly's "I Believe I Can Fly" and share it with the world. You now have that ability, thanks to the new MySpace Karaoke, to be launched Tuesday by the social networking site.
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Wednesday - April 23, 2008
Subscribers to Microsoft's defunct MSN Music service will lose access to songs they purchased from the store in a few months. Microsoft informed MSN Music's customers via e-mail Tuesday that it plans to turn off the store's license servers, and that Aug. 31 will be the last day to move purchased music to another computer.
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Tuesday - April 22, 2008
Sony BMG is joining Universal Music Group in allowing users of select Nokia mobile phones access to its entire music catalog later this year. Nokia's "Comes With Music" program will allow users who buy select cell phone models to download any song from Sony BMG's catalog onto their phone or their computers during the first 12 months of owning such a device.
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Wednesday - April 16, 2008
Another company is making a play at online video. Launched Wednesday, PluggedIn is the new kid on the block in a market of heavy hitters that includes MySpace Music, Yahoo Music, AOL Music, MTV.com and of course YouTube. PluggedIn, however, offers at least one thing those other sites do not have -- initial access to 10,000 free streaming high-definition and broadcast-quality music videos.
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Tuesday - April 8, 2008
Music social networking Web site operator Imeem said Monday it has agreed to acquire Snocap, the digital content tracking company founded by Napster creator Shawn Fanning. San Francisco-based Imeem did not disclose financial terms of the deal. Snocap developed a digital fingerprinting technology that checks media files uploaded to a Web site against a registry of copyrighted works.
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Friday - April 4, 2008
Apple's online iTunes music store is now the No. 1 music retailer in the United States, according to the latest data from the NPD Group. To get there, iTunes had to beat out Wal-Mart. To date, Apple says iTunes has 50 million customers and has sold more than 4 billion songs from a catalog of over than 6 million choices.
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Thursday - April 3, 2008
MySpace announced Thursday a joint venture with three of the world's four largest record companies -- Sony BMG, Universal and Warner Music -- to launch a new online music service. The service will add new features to the social network's existing music portal, MySpace Music.
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