Cedar Knolls, N.J. - MediaBay, a provider of spoken word audio content that has been seeking a buyer since early last year, announced that it is ceasing operations.

The company said that it was unable to sell its business and has "no viable alternative."

Founded in 1993, Cedar Knolls, N.J.-based MediaBay has a library of more than 75,000 hours of audio content, including audiobooks and old radio shows.

The company was MSN Music's exclusive provider of digital spoken word content, and also distributed its content through RealNetworks and satellite radio firms XM and Sirius.

MediaBay will now seek to sell its assets at auction and distribute its remaining cash to creditors, a process expected to be completed by early September.

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