Deals of the day

Published: 17 December 1999 y., Friday
** Bertelsmann AG_s BMG Entertainment music label has made an equity investment in nine-month old Silicon Valley Web company, Riffage.com , whose Web site promotes relatively unknown musicians and unsigned bands. Other investors include America Online (AOL) and several investment firms. Riffage.com chief executive Ken Wirt said the $21 million of new investment would be used to enhance the site_s filtering and personalization functionality for users interested in downloading music files. Wirt welcomed the involvement of BMG, one of the majors in the music business, telling Reuters, "Initially the music guys were nervous of this, but eventually they came around." Kevin Conroy, BMG Entertainment senior vice president, said, "BMG is committed to using the Internet to provide greater exposure for our artists and to create a digital connection between our artists and their fans." ** With 3.2 million unique home visitors in November, Priceline.com (PCLN) emerged as the top site for US Internet users shopping for information on Thanksgiving holiday air travel, according to a study released by PC Data Online. Travelocity.com and Expedia.com (EXPE) followed with 2.8 million unique visitors (8 percent increase) and 2.1 million (6 percent increase). The study also revealed that most home Internet users reserved their Holiday flights through direct channels as opposed to travel agents. Thirty- two percent booked flights online, while 31 percent booked flights by telephone directly through an airline. Twenty percent booked through a travel agent. "Thanksgiving air ticket sales reinforced that direct booking -- whether online or by telephone direct to an airline -- is eliminating the middleman in air transportation," said Jeff Moulton, Internet analyst for Reston, Va.-based PC Data Online. ** CMGI (CMGI) said it will acquire Yesmail.com(YESM), a company which uses e-mail for marketing and promotions. Chief executive officer David Wetherell said his company would pay $500 million in CMGI stock for the promotion company, saying the acquisition "is an extension of our firm belief in the phenomenal value of the Internet as the ultimate direct marketing channel." Circuit City Stores (CC) said it will promote America Online_s (AOL) services in its 615 stores, and also become an anchor tenant in AOL_s e-commerce areas.
Šaltinis: CBS MarketWatch
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Paris fashion week ignores economic pinch

European cities may still be feeling the pinch of the global recession. more »

EBRD supports private ownership in Kazakhstan’s oil and gas sector

The EBRD Board of Directors has approved a $50 million convertible loan to Petrolinvest to finance the completion of exploration works at the company’s main oilfields. more »

Car safety: European Commission welcomes international agreement on electric and hybrid cars

The European Commission welcomes the adoption today at the United Nations in Geneva of the first international regulation on safety of both fully electric and hybrid cars. more »

Lithuania’s rating outlook raised by fitch on budget

Bloomberg has today announced that Lithuania had the outlook on its credit rating raised by Fitch Ratings after the Government implemented an austerity program to curb the budget deficit. more »

Eurostat: Lithuania shows highest increase in retail trade

In January 2010, compared with December 2009, the highest increase in retail trade in the EU-27 Member States was observed in Lithuania. more »

Globalisation fund: Parliament backs aid to Germany and Lithuania

Three thousand former car, refrigerator and construction workers in Germany and Lithuania will get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and job guidance after Parliament gave the green light on Tuesday. more »

Tourism: upbeat prospects for 2010 season

Some 80% of Europeans continue to travel for their holidays according to a new Eurobarometer survey on ‘The attitudes of Europeans towards tourism 2010’. more »

Consumer protection under discussion by MEPS

The EU's internal market will be under scrutiny Tuesday when a series of reports will be debated by MEPs in Strasbourg. more »

EU to provide 45,000 micro-loans to unemployed and small entrepreneurs

EU Employment and Social Affairs Ministers today agreed on a new facility to provide loans to people who have lost their jobs and want to start or further develop their own small business. more »

MEPs set to vote on help for German & Lithuanian workers

Over €7.6 million in financial aid for training and self-employment could be available to former workers in German and Lithuanian if MEPs back the measures Tuesday. more »