Word: bertelsmann
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...World, boasts an impressive lineup of soccer matches, Formula One races and Hollywood movies, yet it has managed to lure only 2.4 million paying subscribers. After losing $1.4 million a day, it ended up dragging its parent company into bankruptcy, and buzzards from four continents have converged--among them Bertelsmann, Liberty Media, News Corp. and Sony--to pick at the carcass. In Italy, where stealing satellite service is pursued with the same ingenuity and gusto as is tax avoidance, two competing pay-TV services, Vivendi's Telepiu and News Corp.'s Stream, have fared so poorly that they have...
...seen by some as a sweetener to get Murdoch's support, or at least neutrality, when the government announces its decision on euro entry by June 2003. If so, it was only sweet enough to make Murdoch hungry for a fight. THE BOURSE Buy Buy Britney German group Bertelsmann is paying about $3 billion for Zomba Music. The label, which owns acts like Britney Spears, exercised a "put" option that forced Bertelsmann to buy. Jacking Up Fiat Signaling major restructuring ahead, Fiat CEO Paolo Cantarella resigned. He was replaced by Paolo Fresco, who learned his management style under Jack Welch...
When Napster filed for bankruptcy last week - a technical move that was part of its takeover by German media giant Bertelsmann - it was music to record executives' ears. It meant that the threat unleashed by an 18-year-old named Shawn Fanning, who had 60 million people using his software to download free music, was finally contained. When Napster returns it will be a "legitimate" corporate site, with orderly, paying customers. That's the plan, but containing Napster is not the same as controlling the file-swapping community. The music industry has tried everything from lawsuits to substitutes, launching sites...
TRADING PLACES Bertelsmann wants to turn Napster into a for-pay service (having bought it for $8 million last week), but the free-music file-sharing revolution Napster launched is still going strong, thanks to a fleet of wannabes. Here, according to Jupiter Media Metrix, are the top five (by unique users...
...major labels' systems include the online services Pressplay (owned by Vivendi Universal and Sony) and MusicNet (EMI, AOL Time Warner, Bertelsmann and the software firm RealNetworks). Initially hyped as the legitimate alternatives to the original outlaw Napster, these services have flopped with consumers--especially where CD burning is concerned. Pressplay charges $9.95 to let you burn 10 tracks a month--barely enough for one CD. MusicNet offers no burning capabilities, but EMI seems to have belatedly recognized the need, at least for fans of Sharon Riley and Faith Chorale. You can now burn up to 20 tracks from...