AfterDawn: Tech news

Vivendi shuts down MP3.com Europe, plans to sell U.S. part

Written by Petteri Pyyny @ 09 Jul 2003 2:06

Vivendi shuts down MP3.com Europe, plans to sell U.S. part French media giant Vivendi continues to scrap its media assets in order to reduce its massive debt levels. The owner of world's largest record label, one of the biggest movie studios and tons of other media outlets, has decided to shut down the European operations of MP3.com.
Vivendi bought MP3.com in 2001 for $372 million and now company is planning to sell the American main operations of MP3.com as well. Analysts are sceptical whether there is enough interest to gather even a small percentage of the original buying price -- or will there be any bidders who would want to buy MP3.com as a whole.

According to Leanne Sharman, the vice president of sales and marketing at MP3.com Europe, the European operations had just started to see significant revenue streams, but the decision to shut down the European operations was mostly done because of "corporate strategic reasons".



Source: Guardian

Previous Next  
Comments have been disabled for this article.

Latest news

Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets (06 Jun 2023 9:19)
Roomba Combo j7+ is the very first Roomba model to combine robot vacuum with mopping features. And Roomba Combo j7+ does all that with a very clever trick, which tackles the problem with mopping and carpets. But is it any good? We found out.
Neato, the robot vacuum company, ends its operations Neato, the robot vacuum company, ends its operations (02 May 2023 3:38)
Neato Robotics has ceased its operations. American robot vacuum pioneer founded in 2005 has finally called it quits and company will cease its operations and sales. Only a skeleton crew will remain who will keep the servers running until 2028.
5 user comments
How to Send Messages to Yourself on WhatsApp How to Send Messages to Yourself on WhatsApp (20 Mar 2023 1:25)
The world's most popular messaging platform, Meta-owned WhatsApp has enabled sending messages to yourself. While at first, this might seem like an odd feature, it can be very useful in a lot of situations. ....
18 user comments
How to Enable Bluetooth on Stadia Controller How to Enable Bluetooth on Stadia Controller (11 Feb 2023 1:04)
Google shut down its streaming game service Stadia late last month and this means that some people have Stadia controllers lying around that seem to be of no use. That is fortunately not the ....
2 user comments
Guide: How to Kick Unwanted Guests from Your Netflix Account Guide: How to Kick Unwanted Guests from Your Netflix Account (26 Jan 2023 2:14)
Sharing a Netflix account with a person in a different location is possible and indeed very common, although the company doesn't necessarily enjoy this behavior from their customers. However, ....

News archive