Music News Bulletin - 29/07/08

Music for fuel: It's harder than ever to jam econo
"It's harder than ever to jam econo. Mike Watt of The Minutemen coined that phrase—"We jam econo"—in the '80s to mean rocking, especially on the road, in the most efficient, thrifty way possible. But as the numbers at gas pumps continue to rise without signs of improvement, several local bands and their national counterparts are trying to keep touring on the cheap. Some may not be able to keep up or, worse still, get started." [IndieWeek]

Last FM pays out - but not everyone's happy
"Last.FM has started to pay artists directly for music listened to through its website. Good news, huh? Perhaps. But not everyone is thrilled. Merlin, one of the independent label umbrella groups, has issued a grumpy statement:
“The Program announced today does not appear to offer any compensation for any past illegal use of repertoire. It is unclear to us whether or not the terms and conditions of the Program are intended to prevent master owners pursuing such compensation."" [XRRF]

Napster looking ripe for a takeover July 18
"Shares in music subscription service provider Napster Inc. [NAPS] have lost so much value that its cash assets may now be worth more than its market capitalization, meaning that the business itself would have negative value. Napster had $69.8 million in cash, cash equivalents and short-term investments, according to regulatory filings; the company's street value dipped as low as $50.2 million this week. Recent takeover speculation may have fueled a minor comeback, although Napster's market capitalization stands at about $65.5 million in midday trading." [TheDeal]

Will Sony pony up for BMG venture? July 29, 2008
"It's almost certain they'll blame the Internet. But it'll be hard to muster any sympathy for Bertelsmann AG when it finally sells its half of the Sony BMG music venture to its partner. After all, the German media behemoth has made billions from its online investments. Though neither Bertelsmann nor Sony Corp. will talk, both the FT and Nikkei recently have found leaks, saying the Japanese group will soon pony up as much as $1.5 billion to once again reign alone over its own label -- albeit one with one less competitor." [TheDeal]