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MUSIC SITE LOUDENERGY ACQUIRES RIFFAGE ASSETS

Published on .

(April 18, 2001) -- Online and offline music community loudENERGY.com, Newport Beach, Calif., has acquired the assets of Riffage, an online music company that allowed unsigned artists to post their music on its Web site. Riffage, which spent $20 million to develop the assets that were purchased by loudENERGY, shut its operations after running out of funds and failing to find a merger partner. LoudENERGY will soon decide whether it will re-launch the Riffage.com Web site re-branded under its own name, or simply incorporate the Riffage community of fans and artists into its existing site. -- Adrienne Mand

Copyright April 2001, Crain Communications Inc.

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