Petteri Pyyny
9 Apr 2001 15:04
Universal Music Group has agreed to acquire EMusic for $25 million. EMusic has been in financial troubles in past few months, laying off employees, selling parts of its business (IUMA) and facing the threat of de-listing from Nasdaq.
With the deal UMG gets a proven platform for its digital music service Duet it's about to open in co-operation with Sony Music.