Alliance: Making Microsoft Music?

Shares of Alliance Entertainment (CDS) have yet to recover from the knockout blow Metromedia International dealt on Apr. 29, when it withdrew its $685 million buyout bid for the largest independent U.S. wholesale supplier of recorded music. Shares of Alliance traded as high as 10 in early February--right after Metromedia announced the buyout pact. When it was called off, Alliance fell from 9 to 6. Now at 5, the stock is again a target, say some pros who insist a new suitor is "in the wings, now that the stock is flat on its back."

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