Murdoch-Backed Music Startup Set For $1.5M Auction

Law360, New York (February 10, 2012, 5:50 PM EST) -- Beyond Oblivion Inc., a digital music startup backed by media mogul Rupert Murdoch's News Corp. that never got off the ground, is poised to sell itself for at least $1.5 million after a New York bankruptcy judge approved bidding procedures Friday.

The company, which raised $34 million in investment capital from a number of investors including News Corp. before it became clear it couldn't raise enough for a launch, is seeking to unload its assets as quickly as possible in a Section 363 sale, an increasingly...
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