Home

Digital Club Network

Equity Firm Completes EMusic Buy; Will Integrate Digital Club Network

Authored by Mark Hefflinger on November 4, 2003 - 8:25am.
New York -- Dimensional Associates, the New York-based private equity arm of JDS Capital Management, announced on Tuesday that it has completed its acquisition of independent music download store EMusic.com from Vivendi Universal's VU Net USA. Financial terms were not disclosed. The company previously announced that it would end EMusic's practice of offering unlimited downloads from its 275,000-track library for a monthly subscription fee. Dimensional Associates said in coming weeks it will combine EMusic with its roster of live venues that webcast performances of bands, the Digital Club Network, into a new service called EMusic Live. The service will offer both live and on-demand streams of performances from clubs including the 9:30 Club in Washington, DC; the 40 Watt Club in Athens, GA; The Metro in Chicago, IL, Toad's Place in New Haven, CT and Arlene Grocery in New York.
tags: eMusic | Equity | Integrate | Digital Club Network |