Liquid Audio evaporates

Following the recent resignation of CEO and founder Gerry Kearby, and the failure of a proposed merger with CD/DVD distributor Alliance Entertainment, Liquid Audio is throwing in the towel. The best part of their announcement comes at the end.

Liquid Audio, Inc. is a leading provider of software, infrastructure and services for the secure digital delivery of media over the Internet. The Liquid Audio solution gives content owners, Web sites and companies the ability to publish, syndicate and securely sell digital media online with copy protection and copyright management. Using the Liquid Player software, available for free download at www.liquidaudio.com, consumers can preview and purchase downloadable music from hundreds of affiliate Web sites in the Liquid Music Network.

Makes you wonder how they lasted this long, eh?

At it’s peak in Nov ’99, Liquid Audio had a market capitalization of over $1 billion. On 10/22, an investor had offered to buy Liquid Audio for $3 per share — just shy of $68 million. Now, shareholders will receive a disbursement of $2.50 per share. And the major labels sing, “Another one bites the dust-uh.” | Liquid Audio press release