N2K and CDnow finalize merger

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As expected, Cdnow, Jenkintown, Pa., and N2K, New York, Oct. 23 announced plans to merge into a new company that will be called CDnow/N2K. The companies, which together had net sales of more than $75 million in the past year, will combine their operations and distribution channels to create an e- commerce music site reaching more than 1.2 million customers. The merger is expected to close in early 1999.

Copyright October 1998, Crain Communications Inc.

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