More info relating to Apple’s (AAPL) recent Lala.com acquisition, basically suggesting the major labels lucked out on their investment in the streaming service.
As PaidContent puts it: “Warner Music Group got at least $9 million back of the $20 million it invested in online music service Lala.com, after the latter’s sale to Apple, according to a proxy statement it filed this morning. This after it wrote down $11 million of its $20 million investment earlier last year, after disappointing results.”
The SEC filing tells us too, ““In Dec 2009, the Company sold its equity interest in la la and entered into an agreement to terminate a me
