More MySpace Music: Not 15th; CEO Shortlist; Advertisers; Raising PE Money?
This story was written by Rafat Ali.
MySpace Music, which was originally slated to launch Monday, is now pushed to later in the week, and other drib drabs about it are leaking out. We has some details earlier on Friday.
-- New CEO: The shortlist is down to two candidates, according to LAT. They are Andy Schuon, a former head of programming at MTV and Infinity Broadcasting (now *CBS* Radio) and longtime Universal Music executive; the other Owen Van Natta, the former chief revenue officer at Facebook, which would be an interesting choice hiring from a rival (though of course after he left earlier this year). The CEO search has been going on for about six months now and other execs who have been interviewed along the way include former *AOL* EVP Jim Bankoff, BigChampagne CEO Eric Garland, and Benchmark Capital EIR Dave Goldberg and Ian Rogers, both formerly GMs of *Yahoo* Music.
-- Advertisers: *Sony* Pictures has signed on as the first studio advertiser to promote its pics on MySpace Music, reports Variety. Other advertisers on launch include McDonald's, State Farm and Toyota. Sony will promote its new music-themed comedy "Nick & Norah's Infinite Playlist," which stars Michael Cera...it releases October 3. The studio will skin the playlists; McDonald's will sponsor free music downloads; Toyota will offer free music on Tuesdays over the year. And State Farm will also be featured throughout the site.
-- New PE Funding?: Very much like Hulu. the other digital video JV, MySpace Music, which has investments from the three studios, is looking to raise PE money, reports TC. The post says it is looking to raise "well over $100 million, at a valuation of $2 billion or more." Providence Equity Partners, which invested $100 million in Hulu at $1 billion valuation, is reported to be looking at investing
By Rafat Ali