Jari Ketola
12 Dec 2000 15:25
CenterSpan has acquired the assets of Scour, Inc. in federal bankruptcy court on Tuesday. Scour, Inc., the Internet search enigne company sued by the music and movie industries for copyright infringement, filed for Chapter 11 bankruptcy protection in early October.
CenterSpan's winning bid was $9 million consisting of $5.5 million cash and $3.5 million worth of stock, which outbid the rival bidders Liquid Audio Inc. and Listen.com.
According to an earlier statement from CentreSpan they are not going to open the Scour Exchange service. Their original plan was to shut down the service and re-launch it in Q1 of 2001 as a secure and legal digital distribution channel based on CenterSpan's technology.
So in essence - bad news for everyone who was hoping for a miracle rescue of the Scour Exchange. It's not going to happen...