Liquid Audio to Evaporate

[MSNwar]

Liquid Audio Going Down the Drain

Ending months of speculation about the company's future, the board of directors of Liquid Audio voted unanimously Friday to liquidate the company to shareholders.

The company which sought to provide encoded digital audio to consumers, protecting copyrights through copy protection, faced an internal struggle between shareholders who wanted to merge with Alliance Entertainment and those who wanted to liquidate.

Chief executive Gerald Kearby resigned last month after the merger with Alliance was cancelled. Shares of Liquid Audio will be distributed to shareholders on 20 Dec. Liquid Audio sold its encoding technology to Microsoft in September for $7 million.

Source: ZDNet.co.uk