RealNetworks and Viacom have announced plans to spin their joint venture Rhapsody music service off as an independent company. The companies will continue to own “slightly less than 50%” of the new company, with one or more minority stockholders taking the rest. As part of the spin-off, Viacom subsidiary MTV’s obligation to provide around $111 million of advertising for Rhapsody will be cancelled. The move is being widely seen as the first step to finding a full buyer for the subscription music service. Who’d buy it though? Source: All Things Digital

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