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"There can be no assurance that proposals will be submitted, or that a transaction will be consummated prior to June 30, or at any time."
—From a CDNow statement.
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CDNOW "CLARIFIES,"
STOCK INCHES DOWN

Announcement Anticipated By Month's End.
Almost Definitely. We Think.
Shares of CDNow Inc. edged downward 0.69 today to 4 3/16, following Friday's surge. The spike occurred after the cash-strapped online music retailer said it expected to announce a deal with a merger partner or investor this month.

CDNow shares were 2-9/16 higher in mid-afternoon trading on the NASDAQ. The 111% gain made the stock the market's percentage-gain leader on a day when the composite index had surged by more than 6%. CDNow's trading volume was almost nine times higher than its daily average.

The share price has tumbled from a 12-month closing high of 23-1/4 in July amid concerns that it could be among the first Internet retailers to fall victim to an industry shakeout.

On Friday (6/2), President and Chief Executive jason olim',390,400);">jason olim',390,400);">Jason Olim said CDNow was "...on schedule with our investment process, and we expect to announce a deal with a merger partner/investor" by June 30.

Today, the company ammended Olim's comments with a statement that read in part: "The company has had discussions with five different groups about a possible investment or merger transaction. CDNow has requested final proposals from interested parties... There can be no assurance that proposals will be submitted, or that a transaction will be consummated prior to June 30, or at any time. But it would be nice to have some extra cash for the Fourth of July weekend; my cousin's having a beach party."

HITS LIST: AMPERSANDS
Dynamic duos (12/3a)
TAYLOR'S TREMENDOUS YEAR
She'd make one helluva CEO. (12/3a)
THEY CALL THE WINDFALL MARIAH (HOLIDAY EDITION)
Ch-chingle bells (12/3a)
SONG REVENUE:
BOWS OF HOLLY
Adele is money. (12/3a)
UTA MUSIC EXPANDS IN NASHVILLE
Reshuffling the deck (12/3a)
CHESTNUTS
Roasting.
STOCKINGS
Stuffing.
PIPERS
Piping.
SANTA
Coming.
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