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`Technology Briefing | Software: Alliance Will Acquire Liquid Audio
`
`By Andrew Zipern (NYT) (Compiled by Gary Bradford)
`Published: June 14, 2002
`
`Liquid Audio, a company based in Redwood City, Calif., that makes software for online music
`distribution, said yesterday that it would be bought by the Alliance Entertainment Corporation,
`a home entertainment distributor, for about $118.3 million in stock. Alliance distributes video
`games, compact discs, DVD's and videotapes. The companies hope that the deal will create a
`major media delivery company with both online and off-line impact. The move comes two
`weeks after Josh Schechter, a dissident Liquid Audio shareholder who owns a 9 percent stake,
`called on executives to sell the company after it reported a large drop in revenue. Liquid
`Audio's first-quarter revenue fell to $135,000 from $1.7 million a year earlier and $768,000 in
`the fourth quarter. However, another shareholder, Musicmaker.com, which has a 6.9 percent
`stake in Liquid Audio, criticized the proposed merger in a letter to Gerald W. Kearby, Liquid
`Audio's chief executive. He described the deal as a ''shotgun wedding.'' Still, Mr. Kearby said
`that ''the combination with Alliance offers the most significant return of value to Liquid Audio
`stockholders.'' Shares in Liquid Audio ended the day down 26 cents, or 10.1 percent yesterday,
`to close at $2.30.
`
`
`
`Andrew Zipern (NYT)
`
`Graph tracks Liquid Audio's share price since last Thursday.
`
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`http://www.nytimes.com/2002/06/14/business/technology-briefing-software-alliance-will-acquire-liquid-audio.html[3/21/2014 6:56:59 PM]
`
`Apple Exhibit 4253
`Apple v Sightsound Technologies
`CBM2013-00020
`Page 00001
`
`
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