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Is FiLife Running On Borrowed Time?

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Less than two months after talking up the turnaround at Dow Jones-IAC (NSDQ: IACI) personal finance JV FiLife, paidContent has learned the site’s continued existence is no certainty. It survived the multiple trimmings as Barry Diller cut back on IAC’s portfolio of emerging businesses, but the company is now exploring options that range from leaving it open to a sale or a full shut down. When Ezra Kucharz, president and GM for just over a year, left for CBS (NYSE: CBS) in January, both IAC and DJ credited him publicly with turning around the site and building it to the #4 personal finance site with 4.4 million unique visitors in December. Now both companies are declining comment about the site’s future.

One possibility for IAC could be selling its stake to Dow Jones (NYSE: NWS), which recently bought out SmartMoney partner Hearst. But that’s a well-established brand with an 800,000-circ magazine. Whether DJ would even want to own FiLife outright is unclear—as is whether a deal actually would involve much money. What FiLife does have—more traffic than SmartMoney.com, where personal finance is just one category, and a digital mentality. Is there a way to combine the two?

FiLife has had a bit of a tortured life from its beginning: taking more than a year to move from an idea to a blog, then taking so long to emerge from that status the plans appeared to be dormant. Dave Kansas, brought in from the Wall Street Journal to launch the site, was replaced by online vet Kucharz in late 2008. Adam Wiener, executive editor and VP-content was promoted to GM when Kucharz left, but not given the title of president.

It’s made strides on the editorial side. Just last month FastCompany picked it as the most innovative company in the finance area for using “a Q&A format with a host of social and game-like features to get Americans talking about money. More as warranted—and please feel free to e-mail me if you have details.

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Mar 19, 2010 11:15 PM ET

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Posted In: Features, Exclusive, Media & Publishing, Online News, Companies, IAC, News Corp., Dow Jones

  • Edmonton Recording Engineer

    This has nothing to do with musicians getting paid. I am a professional musician (read:not wedding musician) and love Seeqpod. Ever wanted to find out that random song you heard somewhere, but don't actually like it or want to purchase it? Ever feel like playing that old song that you used to like back in the day at some party, but would be mortified to actually posses it? It was a godsend when I was teaching guitar lessons. Seeqpod is handy. And unarguably has helped artists gain new listeners and exposure, not to mention just to let people hear more than the first 10 seconds of some random tune to see if they like it.

    The issue here is hosting vs. search capabilities linked to copywritten material.
    I personally believe that search engines should not be restricted in any way. I'm trying to look for something - not be given an "approved" list of "safe" search results. It's the internet for godsake's not a kindergarten playground. If it's out there (including copywritten material) I should have some way of searching/finding it. Plus, Seeqpod never actually gave you the song. Not only did they not host it, but they did not allow you to download it or actually own a digital copy (which in my eyes is where the actual copywrite gets broken, not just playing it with no actual hard or soft copy)

    It sickens me to find the record industry clearly floundering in the face of new technological opportunities. Big labels seem content to make some big money grab now- at the hands of their own fans, customers and would-be potential business partners- instead of having the forethought to evolve and adapt to a new market and new technology. Did any of these labels approach Seeqpod about a potentially profitable mutual business agreement? No, they'd rather just grab their money on the way to the bottom.

  • It is so important to see that musicians get the money due them. I play live and also record with other artists.  Musicians must continue to fight for the right to get paid for our creativity and originality and talent.

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