Wednesday, November 18, 2009
Done Deal: MySpace Buys Imeem for Up to $10 Million
It’s official: MySpace has closed on its acquisition of Imeem, the streaming music service. It is paying a fire-sale price of $1 million, sources familiar with the situation tell me, and could pay up to $7 million to $9 million in earn-outs for key employees, who will likely include CEO Dalton Caldwell. Investors like Sequoia and Warner Music Group had pumped at least $25 million into the venture.












A licensing dispute means Warner Music Group can’t promote a new album by one of its biggest acts on the world’s biggest video site. But you can still find Green Day videos on the site, if you know where to look. What gives?
YouTube generates billions of views but no profits. That’s because Google’s video site only sells advertising on a small portion of the clips it shows. That may be changing, argues Bernstein Research’s Jeffrey Lindsay.
Dallas Mavericks owner Mark Cuban has racked up more than $1.5 million in fines from the National Basketball Association for various transgressions. But he’s still finding ways to plow new ground. The latest: A $25,000 bill from the league for two messages, totaling 49 words, he posted via Twitter on Friday. Bonus new media debate: Can you copyright a Tweet?