Quantcast

SUITORS SEEK SCOUR

Try Saying THAT With A Mouthful Of Crackers
Bankrupt online file-swapper Scour has become the target of a bidding war that seems to grow as each day passes.

Late Thursday (12/7), Liquid Audio said it would enter the auction for Scour's assets, joining Listen.com and CenterSpan Communications who have already expressed interest, online news provider CNET News.com reports.

Liquid Audio's Philip Wiser said his company discussed the prospect with the RIAA and MPAA—each of which are suing Scour for contributing to copyright infringement—before making the bid, according to published reports.

"Given our history and the fact that we've been the guys with the white hats for so long, they were pleased about the idea of us being the ones to take over the assets," Wiser said.

However, Liquid's bid may have come too late. The court deadline for entering the auction closed Tuesday (12/5), with only Listen.com and CenterSpan in the game. A judge must approve Liquid's bid for it to move forward.

Wiser said his company was not able to complete its "due diligence" review of Scour's resources before the court-imposed deadline.

An attorney for Scour's creditors told CNET Thursday that the company has about $4 million in outstanding debt, not including any possible judgment resulting from the copyright lawsuit.

Listen.com was the first to emerge as a bidder, offering $5 million and 527,918 shares of stock for the rights to Scour's technology and engineering team. Liquid Audio did not say how much it intends to bid but says its bid exceeds Listen.com's offer.

UMG BROADENS SPOTIFY OFFERINGS
Sir Lucian and Daniel are in harmony. (3/28a)
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
YTD MARKET SHARE
Zeroing in on the elite teams (3/28a)
TRUST IN THE TOP 20
Hip-hop is no longer hibernating. (3/28a)
SONG REVENUE:
A STYLISTIC STEW
MC, divas and singer-songwriters rub elbows. (3/28a)
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)