Business Services Industry
America Online Buys Two Internet Music Companies.
Knight Ridder/Tribune Business News, June, 1999 by Kong, Deborah
Knight Ridder/Tribune Business News
Jun. 2 -- Hoping to turn users' computers into radios and lure legions of devoted online music fans into the AOL family, America Online Inc. said Tuesday that it has acquired two leading Internet music companies.
AOL paid about $400 million in stock for San Francisco-based Spinner Networks Inc. and Sedona, Ariz.'s Nullsoft Inc. Both will be based in San Francisco.
Spinner Network's Internet music service, Spinner.com, broadcasts about 2 million songs daily, mostly to workers who download its software and listen to channels from urban & dance to country & folk over high-speed Internet connections in their offices.
Nullsoft's Winamp is free software that allows users to play MP3 files. The popular...
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