Search and compare IT Consultants and Tech Industry Advisors to improve the efficiency of your business.
Welcome Guest | Sign In
ECommerceTimes.com

Stock Watch: CDNow Rallies as Talks with Suitors Continue

By Nora Macaluso
Jun 30, 2000 12:00 AM PT

CDNow Inc. (Nasdaq: CDNW) was up 7/32 in early trading at 3 1/32 Friday, as the Fort Washington, Pennsylvania-based online music seller said it is continuing to talk with "multiple parties" and is "working toward completing a transaction in the next several weeks."

Stock Watch: CDNow Rallies as Talks with Suitors Continue

CDNow, strapped for cash, began the search for a buyer in March, saying it hoped to find one by the end of June. The company lost 17 cents per share in the fourth quarter, compared with a 9 cent loss a year earlier. The company said on June 15 that it might not meet its original goal of finding a buyer by month's end.

"The company has not agreed on terms with any party, including a price for an investment or acquisition of all or part of the securities of CDNow," the e-tailer said in a statement issued after the close of trading Thursday. "There can be no assurance that an offer will be received from any of these groups or that a transaction will be consummated at any time, or what the terms of an agreement might be."


Facebook Twitter LinkedIn Google+ RSS
Of the following CES 2018 crowd pleasers, which do you consider the most important or desirable new tech?
Google Assistant -- voice-activated AI on displays everywhere
Helite's Hip'Air - a hip-protecting airbag belt for seniors
HTC Vive Pro - a VR headset with way better resolution and sound
Samsung's 'The Wall' - a modular TV with MicroLED for consumers
Sony's Aibo -- a lovable AI-powered robotic pet dog
Toyota's e-Palette -- a self-driving van for deliveries and more