Short Take: Music industry exec forms Net music venture

Gary Gersh, former Capitol Records CEO, formed an Internet music company under the umbrella of Digital Entertainment Network, the Los Angeles Times reported. Hollywood agent Michael Ovitz talked to Gersh and his partner, rock manager John Silva, in January about making a $55 million investment in the venture, though an agreement was never reached. DEN Music Group plans to promote, sell, and distribute recordings from the company's Web site.

The story "Short Take: Music industry exec forms Net music venture" published June 1, 1999 at 12:50 PM is no longer available on CNET News.