Warner Music Says Imeem Is Worthless

TECH CRUNCH -- May 7 -- Warner Music Group, an investor in imeem and Lala, thinks they are no longer worth much, if anything at all. As detailed in its 10Q report, Warner Music Group took a $16m charge to write down its investment in imeem, and an $11m charge to write down part of its investment in Lala, plus it took another $4m charge to write down a bad debt from imeem which it never expects to collect. That comes to a total of $33m down the digital music drain. FULL ARTICLE @ TECH CRUNCH

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