Beyond Oblivion Files For Bankruptcy Protection

Out Of Business

NEWS CORP.'s digital music startup, BEYOND OBLIVION, has filed for bankruptcy protection before ever officially opening for business. REUTERS reports "BEYOND OBLIVION owed creditors between $100 million and $500 million, with estimated assets of less than $10 million, according to a Chapter 11 filing at the U.S. Bankruptcy Court, Southern District of NEW YORK."

SONY MUSIC ENTERTAINMENT and WARNER MUSIC GROUP are reportedly each owed $50 million.

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