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Loudeye picks new chief exec

Digital media company Loudeye named a new chief executive Wednesday as part of a management shakeup. Jeff Cavins, former senior vice president of worldwide sales, was named CEO. At the same time, the company announced the immediate resignations of Phil Gioia, CEO; Chad Waite, chairman; and Gary Sbona, director.

Both Gioia and Sbona were principals of Regent Pacific Management, which provided strategic advice to the company. Loudeye said that consulting relationship was terminated Wednesday. Anthony Bay, a Loudeye director, will now serve as chairman. Loudeye provides digital music services and has struck a number of deals with major record labels to encode music for online promotions and commercial services. The company has recently restructured its operations to focus on Webcasting services, following an ill-timed move into Web radio services late last year.