Retail Industry
Industry: Email Alert RSS FeedCDNow in Amazon's web. (Vidbits).(CDNow being acquired )(Brief Article)
Video Business, December, 2002 by Frankel, Daniel
* Amazon.com will take over the operations of struggling online music retailer CDNow. Under the deal with German media group Bertelsmann, which owns CDNow, die site's headquarters in Fort Washington, Pa., will be closed and its staff of 33 laid off. Amazon will assume operational control, much as it did for onetime rivals Borders.com and VirginMega.com, shipping most of CDNow's merchandise from its own warehouses.
Amazon reportedly will get a share of CDNow's profits.
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