Baker Capital

Music Publishers Sue Online Music Service MediaNet

Authored by Mark Hefflinger on February 13, 2008 - 11:45am.

Washington - Several members of the National Music Publishers' Association (NMPA) on Wednesday filed a class action copyright infringement lawsuit against MediaNet, a company that powers digital music services for Microsoft, Yahoo, MTV and others, claiming they failed to obtain proper licenses for use of songwriters' and publishers' works.

Mobile Device Software Firm Action Engine Raises $20 Million

Authored by Mark Hefflinger on July 30, 2007 - 8:51am.

Bellevue, Wash. - Action Engine, a developer of mobile on-device portal applications, announced on Monday that it has raised $20 million in its latest round of venture capital financing, led by Baker Capital.

MusicNet Serving Average of 6.8 Million Songs Daily

Authored by Mark Hefflinger on April 4, 2007 - 1:05pm.

New York - MusicNet, the digital music and video service provider that powers services for Yahoo, MTV, HMV, Virgin, iMesh and others, announced that it served an average of 6.8 million streams and subscription downloads per day during January and February, or a total of over 400 million plays.

Finnish Digital Terrestrial TV Firm Digi TV Plus Raises $48.8 Million

Authored by Mark Hefflinger on June 6, 2006 - 1:53pm.

New York - Baker Capital, a venture capital firm focused on digital communications, announced on Tuesday that it has led a $48.8 million investment in Finland-based digital TV provider Digi TV Plus.

Record Labels, RealNetworks Sell MusicNet Joint Venture to Baker Capital

Authored by Mark Hefflinger on April 13, 2005 - 10:00am.

New York -- MusicNet, the digital music distribution joint venture launched in 2001 by RealNetworks and the major record labels, has been sold to New York-based investment group Baker Capital. Financial terms of the transaction were not disclosed. Baker Capital's investment portfolio is focused mainly on digital communications firms, and also includes Wine.com, Action Engine and Broadview Networks. MusicNet provides a library of 1.3 million tracks, and digital music services to distribution partners AOL, Virgin Digital, HMV and Trans World Entertainment. "In the early stages of building the business, we greatly benefited from our strategic alliances with key players in the music industry," said MusicNet CEO Alan McGlade. "Today marks a new chapter in the history of MusicNet, as our agreement with Baker Capital greatly enhances our ability to grow, both domestically and internationally." Baker Capital said the deal will provide MusicNet with the funds necessary to expand the scale of its operations and increase its music library.

tags: RealNetworks | Baker Capital | Record Labels | MusicNet Joint Venture |