Yahoo! To Buy Launch Media (Warped Tour) For $12 Million
Internet media network Yahoo! Inc. said on Thursday it plans to buy Webcasting company Launch Media Inc. for $12 million in an effort to boost its own music properties, which have failed to gain traction over the last two years. Yahoo is betting that Launch, which designed a Web service that tailors Internet radio playlists to the tastes of individual users, would provide key features to complement its music services. Yahoo already offers music CD sales, downloads of digital music files and its own Webcasting efforts. The company plans to pay 92 cents a share, which represents a 59 percent… Read more »
