Joining forces to challenge e-commerce Goliath Amazon.com, dueling music e-tailers CDnow and N2K Wednesday finalized their $522 million merger.
Changing Inside, Watching Outside: Understanding Business Model ::
A more complete framework is offered by Rajgopal et al. (2002) CDNow.com. Music e-tailer. 13. N2K. Music e-tailer. 4. SportsLine. Sports content consumer
http://www.msu.edu/~singhha6/singhICIS2005.pdfHOME |
The new entity will be known as CDnow/N2K. The companies first announced the deal last October.
N2K shareholders will get 0.83
shares of common stock for every N2K share held and CDnow shareholders will
receive one share of common stock in the new company, in a tax-free
exchange. Stocks for both concerns have lagged behind their Internet
brethren. At mid-day CDnow was up 25 cents to $18.063 while N2K was up 56.3 cents to $14.875.
The new music merchandising site is expected to debut in May. It will be
headed by Jon Diamond, who will be the merged entity's chairman. Diamond was formerly the
co-founder and vice chair of N2K. CDnow co-founder Jason Olim is slated to
retain his president and chief executive officer title. N2K co-founder Larry Rosen will take a seat on the company's board of directors.
The European Internet Report::
No representation is made that it is accurate or complete. N2K. CDnow. 23/10/98. 108. Online music entertainment company that promotes, markets
http://www.morganstanley.com/institutional/techresearch/pdfs/euro4.pdfHOME |
Olim is quoted as saying the pairing will save the company $20 million in
1999 and an estimated $35 million next year. Reductions in staff from both
companies have resulted. Several key N2K executives have split from the
company, including N2K's former chief technology officer.
Taking on former bookseller-turned e-commerce powerhouse Amazon.com will
prove to be forminable. According to Amazon's figures, the Seattle-based
company, which has only been retailing music products for the past six
months, sold more than $50 million in CDs during the second half of last
year. CDnow's total revenue for 1998 were reported at $56 million. Both
CDnow and N2K have online partnerships with the major portals, including
America Online, Yahoo!, Excite and Geocities.
Techdirt: March 15 - 21, 1999::
AOL and Netscape completed their merger, as did N2K and CDNow complete office including a removable desk, IBM notebook computer (with cool
http://www.techdirt.com/articles/990322/0353239.shtmlHOME |
www.blythe.org/nytransfer-subs/99nyc/@NY_Vol._4,_Vol._38::
The merger also marks an escalation in the pace of growth in the subsector of The merged CDnow/N2Ks losses are gains for teen site Bolt.
http://www.blythe.org/nytransfer-subs/99nyc/@NY_Vol._4,_Vol._38HOME |
InternetNews Realtime IT News -::
CDNow, N2K Complete Merger - 03/17/1999 Making a Case for an Android-Symbian Merger. Infosys Wants to Make the Store a Web Page
http://www.internetnews.com/bus-news/archives.php/199903HOME |
SEC Info - N2K Inc - 8-K - For 10/22/98 - EX-99.1::
Mr. Diamond commented, The merger of CDnow and N2K unites the two leading by number of titles, and a complete resource for music content, community and commerce.
http://www.secinfo.com/dvJxt.71xr.8.htmHOME |
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