CDnow Teams Up with Sony, Time Warner
Internet music retailer CDnowhttp://www.cdnow.com/">CDnow; has formed a partnership with Sony">http://www.sony.com/">Sony Corporation and Time">http://www.timewarner.com/">Time Warner to build a music and video retailing behemoth. The July 13 announcement came in the wake of online bookseller Amazon.com's">http://www.amazon.com/">Amazon.com's recent move into the music market. With the backing of corporate giants Sony and Time Warner, CDnow could be able to mount a challenge to the growing presence of Amazon, which is also expanding into toy sales and consumer electronics.