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Music Industry Launches Digital Song Tagging System to Track Sales

Authored by Mark Hefflinger on February 10, 2003 - 3:40am.
Brussels -- The International Federation of the Phonographic Industry (IFPI), an international music industry trade group, announced on Monday the release of an industry standard identification system to facilitate and simplify the electronic delivery of music on the Internet. The Global Release Identifier (GRid) -- an 18-character alphanumeric code -- is an electronic version of the Universal Product Code (UPC) that currently identifies all CDs. The GRid system may be used by record labels and retailers to track individual digital song sales via stream or download. The IFPI said that labels and retailers that pay the around $245 annual fee to use the system will be able to set individual GRid identifiers for over 30 million different releases.
tags: Music | Track | Digital Song | Tagging System |

Vivendi 2002 Sales Grow, But U.S. Entertainment Unit Lags

Authored by Mark Hefflinger on February 10, 2003 - 3:39am.
Paris -- Helped by a strong performance from its telecommunications business, revenues at media giant Vivendi Universal rose 6 percent to 61 billion euro ($65.8 billion) in 2002. But the company said revenues at its U.S. entertainment unit were hurt because of fewer video releases and poor music sales. Vivendi went deeply into debt because of a lavish buying spree by its former CEO Jean-Marie Messier, and has since been selling off parts of its business. The company has said it is thinking about selling its U.S. entertainment division, and has been rumored to be in talks with Microsoft and others to sell its video game unit.
tags: Vivendi | U.S | Sales Grow |

Midway Closes Calif. Game Development Studio, Lays Off 74 Employees

Authored by Mark Hefflinger on February 10, 2003 - 3:38am.
Chicago -- Midway Games, a developer of titles including the popular "Mortal Kombat" franchise, announced that it will lay off 74 employees -- or about 10 percent of its worldwide staff -- as it closes its game development studio in Milpitas, California. The Milpitas studio's remaining 42 employees will be consolidated into Midway's game studio in San Diego. Chicago-based Midway said that two games that were in development in Milpitas will be discontinued, and that the relocation of assets and employees will result in restructuring charges of approximately $14 million. http://biz.yahoo.com/e/030207/mwy8-k.html
tags: Games | Midway | Lays Off | Studio | Employees |

DirecTV to Raise Up to $3 Billion Through Debt Refinancing

Authored by Mark Hefflinger on February 10, 2003 - 3:37am.
El Segundo, Calif. -- Satellite TV operator DirecTV, a unit of Hughes Electronics Corp., announced on Monday a debt refinancing program that will raise up to $2.95 billion. The company will sell up to $1.4 billion of 10-year senior notes and arrange $1.55 billion in new senior secured credit facilities. The funds will go to Hughes partly to fund operations and partly to replace $1.8 billion in secured bank debt. General Motors, which owns Hughes/DirecTV, recently saw its proposed merger with satellite TV firm EchoStar rejected by the U.S. government; the company is reportedly in talks with News Corp. and SBC Communications on a possible sale of DirecTV. http://biz.yahoo.com/prnews/030210/law086_1.html
tags: VC | DirecTV | Debt Refinancing |

Corporate Streaming Video Provider Vendaria Raises $2.3 Million

Authored by Mark Hefflinger on February 10, 2003 - 3:36am.
Seattle -- Vendaria, a provider of streaming video services to companies that offer online product demonstrations, announced that it has raised $2.3 million in its second round of venture capital financing. FBR CoMotion Venture Capital led the investment round; private investors also participated. Seattle-based Vendaria's customers, including Amazon.com, Eddie Bauer, FAO, Starbucks, Toys "R" Us and Walmart, use the company's technology to stream online video footage of their products to consumers visiting their websites. The company will use the funds to bolster product and business development, customer support, and sales and marketing programs. http://www.vendaria.com/news/releases/release.asp?rID=23
tags: VC | Video | Corporate | Vendaria |

Pressplay Digital Music Service Adds New Label Content, Billboard Data

Authored by Mark Hefflinger on February 10, 2003 - 3:34am.
Los Angeles -- Pressplay, a digital music subscription service joint venture between Universal Music Group and Sony Music, announced on Monday the launch of new features for the service as well as licensing agreements with a number of new record labels. Pressplay subscribers now have access to tracks controlled by DreamWorks, Palm, Ubiquity, Rykodisc/Ryko Label Group and Sub Pop Records, in addition to those already offered by a number of independents and all five major record labels. On Friday, the company will launch version 2.5 of its service, adding access to archival chart data from Billboard magazine, as well as the ability for subscribers to create customized radio stations based on their individual music collections.
tags: Billboard | Digital Music | Pressplay |

EchoStar, EarthLink to Offer Bundled Satellite TV, DSL Services

Authored by Mark Hefflinger on February 10, 2003 - 3:34am.
Littleton, Colo. -- Satellite TV operator EchoStar, which operates the DISH Network, announced on Monday that it has partnered with Internet access provider EarthLink to offer bundled satellite TV and DSL high-speed Internet services. DISH Network customers can save up to $120 a year when they subscribe to both DISH Network and EarthLink DSL, receiving $10 in monthly credits on their combined bills. Rival satellite TV firm DirecTV recently shuttered its DirecTV DSL unit following its failed merger with EchoStar. http://biz.yahoo.com/bw/030210/100060_1.html http://www.earthlink.net
tags: EchoStar | Satellite TV | DSL | EarthLink |