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August 5, 2003 10:27 AM PDT
RealNetworks closes Listen.com buy
RealNetworks said Tuesday it had closed its $36 million acquisition of Listen.com, the private San Francisco-based company that runs the Rhapsody music subscription service. The deal, announced in April, gives RealNetworks majority stakes in two subscription services, since it is also the largest single owner of Listen.com rival MusicNet.
However, RealNetworks has turned its attention to promoting Rhapsody and is already the largest single distributor of the service, the companies said. Rhapsody streamed more than 12 million on-demand songs in July, a 13 percent increase over June, according to the companies. They did not disclose how many paying customers that represented.
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