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Alanis Morissette to Sell MP3 Shares

May 16, 2000|From Reuters

WASHINGTON-Pop singer Alanis Morissette plans to sell about $1 million worth of the stock of online music company MP3.com Inc., according to a filing she made with the Securities and Exchange Commission.

The Canadian-born rocker, whose hit singles include "Ironic" and "You Learn," is looking to unload 100,000 common shares of MP3.com. They are part of 329,328 shares she acquired in April 1999, her SEC filing earlier this month showed.

An MP3 spokeswoman said the San Diego-based company has a consulting arrangement with Morissette's Atlas/Third Rail Management Inc., an artist management group.

As part of the deal, MP3 sponsored a summer 1999 tour by Morissette and fellow singer Tori Amos. It also granted Atlas/Third Rail the right to buy 658,653 shares of MP3 for 33 cents a share.

MP3 shares were at $12.94, down 56 cents in Monday's Nasdaq trading.

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