(PTET): This issue moved higher for a third consecutive day closing at 8 15/16. With a float of only 1.3 million this stock can and does move quickly. The recent deal between Platinum Entertainment and Microsoft (MSFT) enabling the distribution of steaming audio should buoy this stock. The postponed Musicmaker.com IPO, of which PTET owns 10%, was rescheduled for the week of May 24th. Further speculation is that Musicmaker.com may be working a deal with a major record label. Some have suggested Epic or Sony, although at this point we consider such speculation strictly hearsay.
*** now enter announced deal between SONY & MSFT:
Microsoft, Sony Music to Announce Joint Music Venture
Tokyo, May 12 (Bloomberg) -- Microsoft Corp. and Sony Music Entertainment (Japan) Inc. will announce today they will jointly sell digitally recorded music and videos on the Internet, the Financial Times said, without citing sources.
Internet users will be able to download singles by Lauryn Hill, Bob Dylan, Fatboy Slim, Oasis and other Sony Music recordings using Microsoft's MS Media 4.0 technology, the FT said.
Sony Music spokeswoman Yoko Enomoto declined to comment on the report.
Microsoft will eventually alter its software to meet standards set out under the Secure Digital Music Initiative, which aims to protect copyrighted music, the FT said.
SDMI is backed by the world's five biggest record companies -- Sony Music, BMG Entertainment, EMI Group Plc's EMI Recorded Music, Seagram Co.'s Universal Music Group, and Time Warner Inc.'s Warner Music Group.
The guidelines are supported by technology leaders Sony, AT&T Corp. and America Online Inc., among others...
go PTET!
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