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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

May 1, 2006 at 10:47 AM

Loudeye finds its Muze

A month after auditors warned investors that Loudeye was dangerously low on cash, the company sold a set of its assets to digital media giant Muze for $11 million.

Loudeye is selling its U.S. based Web and mobile music commerce services. Altogether it’s transferring businesses that generated 25 percent of its sales last year.

The company said the move will allow it to focus on its global OD2 music downloading platform that’s doing well in Europe.

But is it selling the farm to save some cows? Since the announcement the stock has fallen about 8 percent. More details on the company’s restructing will probably come with its first quarter report on May 9.

Comments | More in | Topics: Digital media

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