Short Take: Grammy winner creates Net haven for new musicians

Grammy-winning musician Steve Vai and Ray Scherr, former owner of the Guitar Center chain, have formed Favored Nations Entertainment, a Net music label for artists outside the mainstream. The company will have three divisions: Favored Nations Records, the company's record label; Favored Nations Visuals, which will release music videos and DVDs; and ProfoundMusic.com, which will sell music downloads and CDs over the Net.