 Online Learning Update Ray Schroeder, editor, COLRS - Online@Illinois SpringfieldOnline Learning Update - a blog published daily since 2001 by Ray Schroeder, Professor Emeritus, University of Illinois at Springfield |
|
|
Online Learning News and Research
Online Learning Update HOME Times and Dates Coordinated Universal Time
Search Online Learning Blog Archives
|
Friday, November 16, 2001
http://chronicle.com/free/2001/11/2001111601t.htm netLibrary Files for Bankruptcy Protection, and OCLC Offers to Buy Its Assets By JEFFREY R. YOUNG The struggling e-book provider netLibrary filed for Chapter 11 bankruptcy protection on Wednesday, and the nonprofit library organization OCLC immediately announced that it had offered to purchase all of the company's assets. The company's fiscal implosion came just five days after one of its investors had filed a lawsuit in federal court alleging that netLibrary had overstated its earnings to attract venture capital. The fate of the company's collection of more than 33,000 full-text books is now in the hands of a U.S. bankruptcy court, which will decide whether OCLC can purchase the virtual tomes, says Jay Jordan, president and CEO of OCLC....
Comments:
Post a Comment
Online Learning News Blog Archives OTEL - Ray's Home Page - Notebook - UIS Online - U of I Online - UIS Home Fair Use
|
