Hacker News new | ask | show | jobs
by dan1234 5287 days ago
From what I understand, a lot of the raised money was for the advances required by the various labels in order to close the deals so I'd imagine a lot of money was returned to investors once it was clear the deals wern't going ahead.

There's a bit more on the story here: http://musically.com/2011/12/31/beyond-oblivion-shuts-down-b...