CEDAR KNOLLS, N.J., July 11, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- MediaBay, Inc. (OTC Bulletin Board: MBAY.PK) announced that it has been unsuccessful in its attempt to sell the company and has no viable alternative, except to cease operations and liquidate its assets. MediaBay intends to wind down its operations in an orderly manner and seek to sell its assets at auction and distribute its remaining cash to its creditors. It is anticipated that this process will conclude by early September 2007.
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