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BUSINESS
October 24, 1998 | From Reuters
CDnow Inc. and N2K Inc., two of the biggest players in online music retailing, said they agreed to merge in a stock deal worth about $101.8 million, a move that would create an Internet music seller with about 1.2 million customers. The merged company, to be called CDnow/N2K Inc., would compete with cyberspace rival Amazon.com Inc., a Web bookseller that in June began selling CDs to more than 3.5 million customers.
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BUSINESS
November 5, 1998 | JONATHAN GAW
Los Angeles-based Ticketmaster has sued online music retailer N2K Inc. for alleged breach of contract, the company said Wednesday. New York-based N2K, which is in the process of merging with competitor CDnow Inc.
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BUSINESS
August 19, 1998 | Bloomberg News
N2K Inc., the No. 2 online music company, said it is tightening the focus of its Internet music business and will take a third-quarter charge of as much as $7 million for cutting jobs and other costs. The company said its N2K Encoded Music label will promote artists and releases that are popular with Internet users and will cut marketing and promotional costs. N2K executives declined to disclose how many jobs will be cut.
BUSINESS
October 24, 1998 | From Reuters
CDnow Inc. and N2K Inc., two of the biggest players in online music retailing, said they agreed to merge in a stock deal worth about $101.8 million, a move that would create an Internet music seller with about 1.2 million customers. The merged company, to be called CDnow/N2K Inc., would compete with cyberspace rival Amazon.com Inc., a Web bookseller that in June began selling CDs to more than 3.5 million customers.
BUSINESS
November 5, 1998 | JONATHAN GAW
Los Angeles-based Ticketmaster has sued online music retailer N2K Inc. for alleged breach of contract, the company said Wednesday. New York-based N2K, which is in the process of merging with competitor CDnow Inc.
BUSINESS
October 8, 1998 | JONATHAN GAW, TIMES STAFF WRITER
Amazon.com, a dominant brand in the infant electronic commerce industry, faces a war on two fronts now that N2K Inc. and CDnow Inc. announced they are in merger talks one day after German media giant Bertelsmann and Barnes & Noble Inc. agreed to an online partnership. On Wednesday, New York-based N2K and CDnow of Jenkintown, Pa., acknowledged news reports that they were in negotiations, which could result in a company with nearly half of all online music sales.
BUSINESS
June 11, 1998 | From Reuters
Online retailer Amazon.com Inc. has moved beyond books for the first time, making a play for the rapidly growing market of music sales over the Internet. The Seattle-based company, the leader in online book sales, with $87 million in sales in its most recent quarter, faces stiff competition in the new market--notably from online music sellers CD Now Inc. and Music Boulevard, a unit of N2K Inc.
BUSINESS
April 27, 1998 | MARLA MATZER, SPECIAL TO THE TIMES
Ticketmaster Group Inc. is expected to announce today a $12-million, two-year joint venture with N2K Inc., a leading online music retailer. Sources say N2K would pay Ticketmaster $12 million cash over two years to become Ticketmaster Online's exclusive music retailer; if sales exceeded a certain undisclosed threshold, N2K would give Ticketmaster an additional cut.
BUSINESS
July 23, 1998 | From Times Wire Services
Amazon.com Inc. said Wednesday that its second-quarter loss widened as the No. 1 online bookseller attracted more customers but spent heavily to do so amid intense competition from Barnes & Noble Inc. and other Internet rivals. N2K Inc., which sells music over the Internet, also reported larger losses in the second quarter as revenue soared. Online news service CNet Inc. posted a loss in the quarter as well, citing a slowdown in traffic growth on its Web site. MindSpring Enterprises Inc.
BUSINESS
July 14, 1999 | CHUCK PHILIPS, TIMES STAFF WRITER
Forging a new path into the digital future, entertainment behemoths Time Warner Inc. and Sony Corp. announced plans Tuesday to buy online music and video seller CDNow Inc. and combine it with their Columbia House record club venture.
BUSINESS
October 8, 1998 | JONATHAN GAW, TIMES STAFF WRITER
Amazon.com, a dominant brand in the infant electronic commerce industry, faces a war on two fronts now that N2K Inc. and CDnow Inc. announced they are in merger talks one day after German media giant Bertelsmann and Barnes & Noble Inc. agreed to an online partnership. On Wednesday, New York-based N2K and CDnow of Jenkintown, Pa., acknowledged news reports that they were in negotiations, which could result in a company with nearly half of all online music sales.
BUSINESS
August 19, 1998 | Bloomberg News
N2K Inc., the No. 2 online music company, said it is tightening the focus of its Internet music business and will take a third-quarter charge of as much as $7 million for cutting jobs and other costs. The company said its N2K Encoded Music label will promote artists and releases that are popular with Internet users and will cut marketing and promotional costs. N2K executives declined to disclose how many jobs will be cut.
BUSINESS
May 3, 2000 | From Bloomberg News
Healtheon/WebMD Corp. said its first-quarter loss widened in line with analyst expectations as revenue nearly quadrupled. Healtheon, an Internet site linking insurers, doctors and patients, said it lost $431.5 million, or $2.47 a share, up from $18.6 million, or 30 cents, a year earlier, because of marketing and acquisition costs. Excluding $358.5 million in amortization and depreciation, the company had an operating loss of $85.9 million, or 49 cents a share, contrasted with a loss of $11.
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