As expected, online radio firm Radionomy has bought digital music services Winamp and Shoutcast from AOL, although more details of the deal have now been reported. According to TechCrunch, Radionomy paid between $5m and $10m for the two sites, paying a mixture of cash and stock which means AOL will now have a 12% stake in Radionomy. AOL had been planning to shut down both sites in December, despite their reputations as two of the longest-established digital music services. Both are now expected to continue in their own right. “We want to rebuild the story for Winamp. We think the future can be great because the strategy is not just desktop but mobile and cars and so much more,” said Radionomy CEO Alexandre Saboundjian. “Yes, perhaps there has been no special innovation in the last two years, but it is still a very strong community and still appreciated by those users.” The report also suggests that Radionomy is looking to raise new funding to help its expansion on the back of the acquisition.
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