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CDNow still shopping itself

CDNow (Nasdaq: CDNW) says it's still shopping for a merger or investor.

After market close Thursday, the online retailer of music said it continues to talk with potential investors or merger partners. The company wants to close a deal over the next several weeks, but said it hasn't agreed on terms with anyone.

The stock traded as high as 3 5/16 in afterhours activity on the Island electronic communications network. Shares of CDNow closed Thursday's regular trading at 2 13/16, down 1/8 for the session.

At the start of June, CDNow announced it was talking to possible buyers or investors, but the stock has fallen since the company on June 15 said it might not complete a deal before month's end.>