Loudeye is an online music company with two businesses: selling music and spoofing P2P networks to make them suck. The former makes them money. The latter doesn't work and costs them money. They're shutting down their anti-P2P arm.
Just more evidence that selling stuff is good for business, while attacking your customers isn't:
As a result, Loudeye has reduced its quarterly consolidated cost structure by approximately $1.6 million, or 10%, compared to third quarter 2005 levels. Overpeer expects to incur approximately $200,000 in severance and related payroll costs associated with the closing of its operations, which is expected to be paid during December 2005. In addition, Overpeer may incur additional wind-down costs to terminate property or equipment leases, and other contracts. The cessation of the Overpeer operations may also result in the acceleration of depreciation or amortization or the impairment of certain fixed and intangible assets. Loudeye anticipates that the net assets and results of operations for Overpeer will be presented as discontinued operations in its consolidated financial statements.
(Thanks, Phil!)
