CDNow pledges to cut quarterly costs by $12 million

Article Abstract:

CDNow Inc. (Fort Washington), plans to reduce quarterly expenses by $12 million to boost investor confidence while looking for a bailout partner. The cost-cutting measure is meant to reduce losses by about one-third.

Financial management

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Judge stops suit against CDnow Inc

Article Abstract:

Internet music retailer CDnow Inc., has had a class-action securities-fraud lawsuit against it dismissed by a federal judge. The judge ruled that the plaintiffs could not prove that corporate officials has misled investors about a failed 1999 merger with Sony Corp. and Time Warner Inc.'s Columbia House.

Legal issues & crime, Pennsylvania

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CDNow will cut 200 jobs in region

Article Abstract:

Online music retailer to move key operations to New York in mid-2001. CDNOW Inc. management confirms loss of 200 jobs at Fort Washington facilities.

Labor force information, Facilities & equipment, Company Profile

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