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Bloom.fm hoping to find buyer
By Andy Malt | Published on Friday 2 May 2014
Bloom.fm has been given a stay of execution by founder Oleg Fomenko, as he seeks a buyer for the streaming service. Interested parties only have ten days to come forward though.
As previously reported, Bloom.fm announced on Wednesday evening that it had been forced to close down after its main investor, Russian TV company TNT, pulled out.
However, Formenko told Music Ally yesterday that he had decided to try to save the service, seemingly after a number of potential bidders came forward following that announcement, saying: “We’ve decided we’re going to run a seven to ten day bidding process to see who wants to buy us. Around a dozen people have expressed interest already, and the process is probably going to be run by our administrators”.
He added: “There is a product and there is a team that can either disappear and go to various different places, or survive. I would rather this had gone completely differently, but if the alternatives are to bury or to live, I’ll choose survival”.
