Business Services Industry
MCI Will Close Its Retail Music Business.(Originated from The Arizona Republic/Phoenix Gazette)
Knight Ridder/Tribune Business News, December, 1996 by Wichner, David
Dec. 12--A year after it started, the music's over for 1-800-MUSIC-NOW, MCI Communications' Chandler-based retail music business.
The long-distance telephone provider said Wednesday that it is dropping the phone-in buying service and a companion Internet sales site at the end of the year because the business failed to generate projected profits.
The company has been winding down the operation, and all the venture's remaining employees have been assigned to other jobs within the company, MCI said.
"The truth is, it was keeping its head just above water in terms of profitability," spokeswoman Susan Landis said. The company did not disclose figures.
MCI entered the $12 billion music retailing business in November 1995...
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