October 8, 1998 |
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.
October 24, 1998 |
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.
June 11, 1998 |
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.
April 27, 1998 |
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.
July 23, 1998 |
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.
July 14, 1999 |
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.