Sunday , February 18 2018
Home / Uncategorized / Battle Over Liquid Audio

Battle Over Liquid Audio

Liquid Audio has cash but hardly any business; some investors want the cash back:

    Liquid Audio, a Redwood City digital distribution company, had only $150,000 in revenue but managed to lose $5.6 million last quarter. Its main asset: A pile of cash. Its stock price Friday was $2.40.

    Liquid Audio could pay off its current liabilities and still have $77.3 million left over, or $3.41 a share, largely from the proceeds from its IPO in 1999.

    The dispute is over what to do with that cash. Three large shareholders want the management to stop spending money, shut the company down and distribute what’s left. The argument is that the business isn’t going to work because there are too many competitors who do what Liquid Audio does but do it for free.

About Eric Olsen

Career media professional and serial entrepreneur Eric Olsen flung himself into the paranormal world in 2012, creating the America's Most Haunted brand and co-authoring the award-winning America's Most Haunted book, published by Berkley/Penguin in Sept, 2014. Olsen is co-host of the nationally syndicated broadcast and Internet radio talk show After Hours AM; his entertaining and informative America's Most Haunted website and social media outlets are must-reads: Twitter@amhaunted, Facebook.com/amhaunted, Pinterest America's Most Haunted. Olsen is also guitarist/singer for popular and wildly eclectic Cleveland cover band The Props.

Check Also

The Olympic Games in South Korea – Let’s Give Peace a Chance

The Olympic games offer a unique opportunity for humanity to dare to hope that we could all operate like this more frequently than for two weeks every four years.