EMI, Giga To Offer Music Online
Taiwan high-speed Internet access firm GigaMedia Ltd. said on Monday it would sell part of its music Web site to record label EMI Group Plc in a strategic alliance to jointly offer music downloads. U.S.-listed Giga said it spun off its Juice.com music site into a separate company capitalized at T$100 million and EMI would take a minority stake in the firm. Officials declined to give financial details of the agreement. “The alliance supports our goal of creating new platforms to promote our artists and distribute their music in a secure, protected, and commercially viable manner,” Mathew Allison, president of… Read more »
