MediaFile
Where media and technology meet
MySpace Music seeking CEO and funding?
The long-expected launch of MySpace Music is happening in drips and drabs. On Sunday MySpace and major music label partners in the joint venture said MySpace Music will launch with four big name advertisers: McDonald’s, State Farm, Toyota and Sony Pictures.
But MySpace still did not confirm when it would launch — though that’s widely expected this week.
In the meantime, several blogs, led by TechCrunch, report that the partners are seeking third party funding of up to $100 million for MySpace Music, valuing the company at around $2 billion. Reuters has not been able to confirm this through our sources yet.
Also, LA Times reports that Facebook’s former chief operating officer Owen Van Natta and ex-Universal Music exec Andy Schuon are said to be in the running to be chief executive of MySpace Music, an appointment that MySpace CEO Chris DeWolfe had hoped would be confirmed by now.
Keep an eye on:
- Best Buy agrees to buy Napster for $121 million (Reuters)
- Electronic Arts ends merger talks with Take Two (Reuters)
- AT&T will ‘temporarily reduce’ broadband speeds (Ars Technica)
(Reuters photo of Chris DeWolfe)
Comments RSSPost Your Comment
- We moderate all comments and will publish everything that advances the story directly or with relevant tangential information
- We try not to publish comments that we think are offensive or appear to pass you off as another person, and we will be conservative if comments may be considered libelous.
Follow MediaFile
[...] Music searching for funding… In reports, MySpace Music is supposedly looking for another big name player to help advertise their music [...]