Song of The Day: Daddy Won’t Sell The Farm - Artist: Montgomery Gentry

Swish! Nuttin’ but net. Seriously, another 2007 prediction concerning Time Warner selling a “media unit” comes true. Last week it was announced that Time Warner sold its music subscription service within AOL to Napster for $15 million.

The NY Times has a nice write-up on it. If the NY Times article is accurate Napster gets a deal at $43 a subscriber when it’s own subscribers are valued at $328.

Inversely, Time Warner also announced that it has agreed to buy TradeDoubler in efforts to strengthen AOL’s global advertising business.

Mr. Bewkes likes the deal while Alecta, 10% owner of TradeDoubler, not so much:

“Not only does our offer provide an attractive premium valuation, but it also will enable TradeDoubler to play a key role in our strategic focus on growing our online advertising business in Europe,” said Jeffrey L. Bewkes, president and chief operating officer of Time Warner.

But a Swedish pension fund called Alecta, which has a 10 percent stake in TradeDoubler, said it would vote against the agreement.

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