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Non-Tech : Valley Media (VMIX) IPO

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To: Paul Hackett who wrote (203)	6/20/1999 1:17:00 PM
From: Paul Hackett	Read Replies (1) of 298

Great news for CDNow announced this morning by Bloomberg and Reuters: Deutsche Telekom plans stake in CDnow - report FRANKFURT, June 20 (Reuters) - Deutsche Telekom AG (quote from Yahoo! UK & Ireland: DTEG.F) is planning to take a stake in the U.S. company CDnow (Nasdaq:CDNW - news), the world's largest internet shopping site for music compact discs, Germany's Focus magazine reported on Sunday. According to the report, Telekom boss Ron Sommer plans to invest at least 180 million marks ($95.90 million) in CDnow as part of his plan to build up Telekom's online business. By 2006, Telekom would like to have 25 percent of Germany's online music business, the report said. This is also good news for Valley. DT's push to have 25% of German music sales via CDNow means more business for Valley. Increased online music sales in Germany would probably originate from Valley in US. I did read how CDNow had a special agreement for distribution in Europe, I don't recall the details. If anyone has that info. please post it.

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