TORONTO--Toronto-based multimedia company musicmusicmusic Inc. (m3) has purchased the Canadian online music trade periodical The Record (therecord.ca) from owner David Farrell & Associates.
March 10 sale came as no surprise to industry figures here who had been predicting the demise of the trade for some months. Last August the 19-year-old trade eliminated its weekly print format and began servicing news and charts licensed from Broadcast Data Systems and SoundScan to its subscribers via a Web site. From the beginning, doubts had been voiced by industry figures here about "the viability of the electronic approach.
Launched in 1997 m3 is a public company, headed by CEO ...