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A revamped, label-backed MySpace Music will hit the ground in September, according to recent comments by company chief Chris DeWolfe. The timetable emerged at Fortune's Brainstorm Tech, held this week in Northern California sweet spot Half Moon Bay. In discussions with reporters, DeWolfe reaffirmed the participation of three major labels, with EMI Music outstanding.
EMI has been struggling through a serious restructuring over the past few months, one that witnessed reductions surpassing 1,500. Top-level executives were also removed or installed in the process, a major distraction from outside deal opportunities. The other labels carry equity stakes in the venture.
The DeWolfe projection appears aggressive, especially given unfinished executive details. The company is reportedly still hunting for a unit chief, and the absence of EMI creates some catalog holes. Earlier, a MySpace executive told Digital Music News to expect a launch by the end of this year, perhaps a more realistic timetable.
Permalink: http://www.digitalmusicnews.com/stories/072408myspace
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