The Final Imeem Purchase Price? Less Than One Million

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So, how much did MySpace really pay for Imeem?

That has been the source of lots of speculation, though sources to Digital Music News are now pointing to a sale price of less than $1 million.  The sources have been close to the negotiations, and the final acquisition paperwork.  MySpace is not assuming any debt or liabilities in the deal.

The price tag covers the straight assets of Imeem, such as the domain, any equipment, and user information and accounts.  It does not include payouts for personnel, though according to sources, initial estimates for ‘earnouts’ are probably much lower than earlier guesses.  Instead of an added $6-7 million, MySpace is expected to pay ‘significantly less,’ depending on who ultimately jumps onto the new team.

So far, top executives are remaining on board as consultants to manage the transition.  That could change, though the immediacy of the transfer means that employee negotiations are still in progress.  Additionally, MySpace is also interested in some ‘talented engineers’ at Imeem, though discussions also remain in the air.

And why the sudden transition from imeem.com to music.myspace.com?  On that point, the same sources noted that an immediate transition was required, simply because Imeem had run out of cash.  “This was the best choice, better than setting Imeem dark,” one source relayed.

And the lights go out at Imeem.