Sony, Time Warner Merging Divisions

Wed., July 14, 1999

From Staff

Sony and Time Warner are merging their jointly owned music club Columbia House with the online music retailer CDNow to form a publicly traded company.

Sony and Time Warner will each hold 37 percent of the new enterprise, and CDNow shareholders will own the remaining 26 percent.

Columbia House will continue to operate as a membership-based music club.

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Sony, Time Warner Merging Divisions

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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