Vivendi Universal Will Buy MP3.com
It's sometimes amazing how courtroom adversaries can become bosom buddies. This week's example: on May 21, <A HREF="http://www.vivendiuniversal.com">Vivendi Universal SA</A> agreed to acquire Internet music portal <A HREF="http://www.mp3.com">MP3.com Inc</A>. for $372 million (423 million euros) in cash and stock—or $5.00/share for MP3.com stockholders. The announcement followed Vivendi's April 5 <A HREF="http://www.stereophile.com/news/11015/">acquisition</A> of Emusic.com for $24 million. The targeted companies' boards of directors unanimously approved both deals. MP3.com will continue to offer music from non-Universal labels, according to a company press release.