Spoken Word Audio Distributor MediaBay Raises $4 Million in Offering

Authored by Mark Hefflinger on January 30, 2004 - 2:02am.

Cedar Knolls, N.J. -- MediaBay, a distributor of spoken-word audio content, announced that it has raised $4 million in new financing through the sale of convertible notes to institutional investors. New Jersey-based MediaBay's content libraries include over 60,000 classic radio programs, 3,500 film and television programs and thousands of audiobooks, which it distributes through streaming and downloadable audio, as well as in over 7,000 retail outlets. "We believe this financing will allow us to increase our marketing efforts over the next few months, which will assist us in growing our business," said MediaBay chief financial officer John F. Levy.
http://biz.yahoo.com/prnews/040129/nyth137_1.html
http://www.mediabay.com