New life seen for music firm

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Friday, Jan. 24, 2003 | 9:47 a.m.

LOS ANGELES -- In a move that could make it easier for record companies to sell and promote songs online, the music distributor for Wal-Mart has agreed to buy some of the assets of Liquid Audio, the troubled digital music pioneer.

Anderson Merchandisers, a privately owned company that is also the largest magazine wholesaler in the United States, is buying Liquid Audio's technology as well as other assets, including computers, for an undisclosed sum. Liquid Audio was at the forefront in developing technology to deliver music securely online but has been in financial straits recently and has suffered through a boardroom fight.