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DIGITAL MEDIA WIRE – Sept. 6, 2000
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o RIAA and Yahoo Reach Pact on Music Broadcasting
o Audio News Provider Audiobasket Raises $20 Million
o Shockwave.com Lays Off 20 Employees
o Audiohighway.com To Merge with nichMusic.com
o Briefly Noted: InternetStudios.com – Robert Beattie, OpenTV,
Loudeye Technologies, Tickets.com, Akamai – Radio Free Virgin,
Internet Gambling Conference
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o RIAA and Yahoo Reach Pact on Music Broadcasting
New York -- The Recording Industry Association of America (RIAA) and Yahoo
announced on Wednesday that they have reached an agreement about the
amount of money that Yahoo will pay record companies for streaming
copyrighted songs. The pact between the RIAA and Yahoo sets the terms and
conditions that music will be made available on Yahoo. The agreement,
which falls under the 1998 Digital Millennium Copyright Act passed by
Congress, does not cover downloadable music, which is the most popular
means for users to listen to music off the Internet; instead it covers
streaming music that cannot be downloaded to hard drives. The RIAA is
currently engaged in a number of high-profile legal battles with a number
of start-up Internet companies.
http://dailynews.yahoo.com/h/nm/20000906/wr/music_yahoo_dc_1.html
http://www.upside.com/News/39b69ee90_yahoo.html
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o Audio News Provider Audiobasket Raises $20 Million
San Francisco, Calif. -- Audiobasket, a provider of audio news for web
sites, today announced that it has raised $20 million in its second round
of funding. The investors include Time Warner, Deutsche Telekom’s
T-Venture, Panasonic, and Dotcom Ventures. San Francisco-based Audiobasket
provides web sites with updated news and information from a variety of
established content providers including the Wall Street Journal, ABC News,
and the Financial Times. The company said the investment will be used to
develop its existing technology and to move into the wireless arena.
http://company.audiobasket.com/timewarner.htm
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o Shockwave.com Lays Off 20 Employees
Los Angeles -- Just days after Pop.com announced that it was laying off
most of its staff, Shockwave.com, a developer of Internet animation and
online games, said on Wednesday that it has laid off about 20 of its 170
employees. The company is reportedly closely examining its revenue model
as it attempts to reduce costs. San Francisco-based Macromedia Inc., a
developer of one of the most popular streaming media software programs,
owns LA-based Shockwave.com. The company insisted that the lay offs do not
signify that it will follow the path of Pop.com and Digital Entertainment
Network -- two high profile digital entertainment companies that have
ground to a halt.
http://dailynews.yahoo.com/h/ap/20000906/bs/shockwave_layoffs_1.html
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o Audiohighway.com To Merge with nichMusic.com
Cupertino, Calif. -- After seeing its stock price plummet in recent
months, Audiohighway.com, an online information and entertainment web
site, today announced that it has signed a letter of intent to merge with
San Francisco-based nicheMusic.com, a "world music" web site. The
all-stock deal is expected to close by the end of the year.
Cupertino-based Audiohighway.com is a publicly traded company with a
market value of $7.6 million. NicheMusic.com closed a $5.7 million round
of financing in July.
http://biz.yahoo.com/bw/000906/ca_audiohi.html
http://www.nichemusic.com
http://www.audiohighway.com
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o Briefly Noted:
(Los Angeles, Calif.) InternetStudios.com, a web site for licensing film
and television distribution rights, announced today that it will work with
film financier Robert Beattie. LA-based InternetStudios.com said Beattie
will launch a new subsidiary for the company that will provide financing
for film production.
http://www.internetstudios.com
(Mountain View, Calif.) Mountain View-based OpenTV, a provider of
software for digital interactive television, will host its "OpenRoads
Developer Conference" on September 28-29 in New York City.
http://www.opentv.com/services/developers
(Seattle, WA) Loudeye Technologies, a provider of digital media software,
today announced the availability of its new "Loudeye Media Syndicator"
program. The program allows companies to syndicate their streaming media
content.
http://www.loudeye.com
(Costa Mesa, Calif.) Tickets.com, a provider of online ticket sales,
announced that Eric Bauer has been named the company's new executive vice
president and chief financial officer. Bauer was formerly a vice president
of Maryland-based Choice Hotels International.
http://biz.yahoo.com/bw/000906/ca_tickets.html
(Cambridge, Mass.) Akamai Technologies, a major deliverer of Internet
content, today announced that Radio Free Virgin will use its "Free-Flow"
streaming service to deliver music content.
http://www.akamai.com/html/nr/press155.html
(Larchmont, NY) The Fourth Annual Symposium on Internet Gambling Law and
Management will be held on November 26-28 in Antigua. The conference will
examine the advantages and disadvantages of operating onshore and offshore
Internet gambling companies. Starnet Communications International, Cable &
Wireless, and Casino City are sponsoring the conference.
http://www.bioconferences.com
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