Liquid will wash away

Co. to pay out $2.50 per share in cash to stockholders

Ailing music Netco Liquid Audio will soon be liquidated.

The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt.

Under the new scheme, Liquid will on Dec. 20 pay out $2.50 per share in cash to stockholders of record as of Tuesday. Company will continue to operate while the board works through the details of the dissolution plan.

Merger derailed

Last month, a shareholder rebellion led by MM Cos. (formerly MusicMaker) shot down a $100 million pact to merge Liquid with media distribution company Alliance Entertainment, arguing that Liquid’s assets should be distributed to shareholders.

Not long after the union’s untimely end, Liquid chief exec Gerald Kirby ankled the company.

Liquid’s shares moved up 5% on Friday to end the week’s trading at $2.78.

More Digital

  • trt world

    How Turkey’s TRT World Wants to Win Over U.S. Online Video Viewers (EXCLUSIVE)

    Ailing music Netco Liquid Audio will soon be liquidated. The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt. Under the new scheme, Liquid will on […]

  • CaptainSparkelz - Pocket.watch

    YouTube Creators CaptainSparklez, EvanTube Sign With Kid-Media Startup Pocket.watch

    Ailing music Netco Liquid Audio will soon be liquidated. The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt. Under the new scheme, Liquid will on […]

  • Peter Thiel

    Billionaire Peter Thiel Sells Majority of Facebook Stake, Pocketing $29 Million

    Ailing music Netco Liquid Audio will soon be liquidated. The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt. Under the new scheme, Liquid will on […]

  • Facebook

    Unsure if You Fell For Russia's Fake News? Facebook Will Tell You Soon

    Ailing music Netco Liquid Audio will soon be liquidated. The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt. Under the new scheme, Liquid will on […]

  • New Media old media shakeup

    Murdoch Sale Talks Underscore Digital's Effect in Disrupting Hollywood

    Ailing music Netco Liquid Audio will soon be liquidated. The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt. Under the new scheme, Liquid will on […]

  • Mosaic app

    Steven Soderbergh's 'Mosaic' App Is Now Available on Android

    Ailing music Netco Liquid Audio will soon be liquidated. The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt. Under the new scheme, Liquid will on […]

  • John Oliver Net Neutrality

    What the Repeal of Net Neutrality Will Mean for Hollywood

    Ailing music Netco Liquid Audio will soon be liquidated. The board of the Redwood City, Calif.-based company unanimously approved a plan to dissolve the company and sell off its remaining assets, handing an apparent victory to a group of dissident shareholders who had scuttled an earlier merger attempt. Under the new scheme, Liquid will on […]

More From Our Brands

Access exclusive content