CMJ, ChangeMusic.com Complete Merger Deal

CMJ, the 20-year-old publisher of music industry trade magazines, announced the completion of its merger with Web site ChangeMusic.com on Tuesday, creating a hybrid firm providing online and publication-based information sources.

Under terms of the deal, which was valued at $50 million, the combined ChangeMusic Network will be a subsidiary of publicly traded Rare Medium Group Inc. The new firm will offer online and newsstand publications, organize a New York music festival and host a series of Web sites focusing on MP3 files and technology.