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GoodNoise to Buy 2 Online Music Sellers

October 13, 1998|Bloomberg News

GoodNoise Corp., which sells music via the Internet, agreed to buy two other Internet music sellers, expanding its catalog of songs and providing a common distribution point for consumers. Nine-month-old GoodNoise said it will acquire Napa-based Nordic Entertainment Worldwide and Santa Monica-based Creative Fulfillment Inc. All three companies allow users to sample, purchase and download music from the Internet. Terms of the transactions weren't disclosed. Nordic Entertainment, the first company to sell music online, has a catalog of more than 6,000 songs that can be downloaded from the Internet, GoodNoise said. GoodNoise will issue up to 2.1 million shares as part of the transactions, which it expects to complete in 90 days. The company's new Web site will be at http://www.emusic.com. Shares of Palo Alto-based GoodNoise shares rose 13.5 cents to $7.63 in over-the-counter trading.

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