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Technology Stocks : Metromedia International Group (MMG) Looking for Opinions
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To: TheSlowLane who wrote (176)8/18/1998 7:56:00 PM
From: Elayne Shochet Tatar  Read Replies (1) of 353
 
This is from today's (8/18) edition of Internet Daily from InfoBeat.
by Frank Barnako, CBS MarketWatch. Apparently MMG is investing in Liquid Audio. Anybody have any additional info?

"Liquid Audio grabs big name investors

Secure online music delivery system Liquid Audio has received $20
million in new funds from investors including Intel Corp., Paul
Allen's Vulcan Ventures and Hummer Winblad Venture Partners. This
is the Redwood City, Calif. firm's third round of financing. Some
of the investors, including a division of Media One Group Inc.
(UMG), have agreed to help develop technology to deliver music via
high speed data delivery means, or broadband. "The future growth
of digital distribution is being fueled by technology from
companies such as Liquid Audio, which enables consumers to
download music files in a secure manner that protects the
intellectual property rights of musicians," said Intel (INTC)
Content Group senior vice president Ron Whittier.

Another investor, Metromedia Co. (MMG), sees possibilities in
Liquid Audio. "By adding Liquid Audio to our already existing
investment in Muze, Inc., a leading provider of music content
databases, we are provided with another important building block
in developing an infrastructure for online music distribution,"
said Metromedia general manager Stuart Subotnick."
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