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

Commission closes investigation into agreement between Bratislava Airport and Ryanair

The European Commission has today decided to close the formal investigation procedure into the agreement between Bratislava Airport in Slovakia and Ryanair after concluding that the airport operator acted as a market economy investor and therefore no advantage has been granted to Ryanair. more »

Jamaica: Agriculture Ministry and World Bank to Assess Weather-Risk Model for Coffee Industry

The coffee industry of Jamaica represents one the largest earners of foreign exchange, approximately US$30 million in 2008. more »

IMF Executive Board Concludes 2009 Article IV Consultation with Mauritius

On January 13, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Mauritius. more »

IMF and World Bank Announce US$1.6 Billion in Debt Relief to Afghanistan

The World Bank's International Development Association and the International Monetary Fund have agreed to support US$1.6 billion in debt relief for the Islamic Republic of Afghanistan. more »

New study on "Public Goods provided by Agriculture in the European Union"

The Common Agricultural Policy plays a critical role in helping farmers to deliver environmental goods and services, provided that policies are targeted in the right way. more »

Commissioner Samecki encourages Croatia to use EU investment as a launch-pad for growth

Regional Policy Commissioner Paweł Samecki will meet Croatia's Prime Minister Jadranka Kosor and members of her government in Zagreb on 25-26 January to discuss the country's preparations for accession in the context of the EU cohesion policy. more »

Dominican Republic: World Bank approves US$20 Million to Foster Local Development through Municipalities

The World Bank Board of Directors today approved US$20 million for the Dominican Republic in support of the Municipal Development Project, which aims to improve the technical and financial capacity of local governments. more »

EIB supports with EUR 400 million development of automotive sector in Romania

The European Investment Bank (EIB) is lending EUR 400 million to Ford Romania SA for the expansion and refurbishment of the company’s existing car assembly plant located in Craiova in the South-West of Romania. more »

The Agriculture Council studies ways to improve the functioning of the food supply chain

The Agriculture Council of the European Union has examined ways to improve the functioning of the food supply chain with the ultimate aim of controlling the fluctuation in prices and ensuring a more equitative distribution of the added value throughout the chain. more »

806 construction workers in Lithuania to receive help from EU Globalisation Fund

The European Commission has today approved an application from Lithuania for assistance under the Globalisation Adjustment Fund (EGF). more »