CDNow Not Dead Yet
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A Mexican billionaire named Carlos Slim Helu has put the brakes on the crash and burn of CDNow, the popular online retailer of CDs and other music related items. With an already promised investment of $52.8 million, equating to 9.2% of the company, Helu is discussing the possibility of an even further investment in the failing firm. Current funds will keep CDNow afloat at least until the end of the second quarter, President and CEO of CDNow Jason Olim says, at which time they hope to have the investment agreements completed with Helu. Visit CDNow for more information.