Music supplier firm completes $15 million private placement.
Music supplier firm completes $15 million private placement
International Cablecasting Technologies Inc., a start-up Start-up
The earliest stage of a new business venture. venture of
market commercial-free "compact-disc quality" music to
subscribers, last week announced it completed a $15 million private
placement. Net shareholder equity was boosted to $16.5 million from $1.5
million, said Jeff Demma, controller of the $70,000-in-revenue company.
The Beverly Beverly, city (1990 pop. 38,195), Essex co., NE Mass., on Massachusetts Bay; inc. as a city 1894. Its chief manufactures are electronic and scientific equipment, consumer goods, and chemicals. Hills-based company expects to sign its first
subscribers this month. Previously, it supplied music only to test
markets and a few businesses, said Demma.
COPYRIGHT 1991 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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