Sony has agreed to sell of its Gracenote audio-recognition software division to Tribune for $170 million, following a few months of searching for buyers.
Tribune, which provides digital data on TV shows and also movies along with its print media divisions, will integrate Gracenote into its existing media-services division.
Sony has been actively looking to narrow its focus and Gracenote did not really fit the plans after being acquired for $260 million in 2008. The unit provides over $150 million in annual sales.
Gracenote provides the technology that lets iTunes, Windows Media Player, Soundhound (and more) to identify songs when transferred from CDs, or downloaded from sites.
"Together we will become an even greater force in the global entertainment data business," Shashi Seth, president of Tribune Digital Ventures, said in the statement.
Sony has been actively looking to narrow its focus and Gracenote did not really fit the plans after being acquired for $260 million in 2008. The unit provides over $150 million in annual sales.
Gracenote provides the technology that lets iTunes, Windows Media Player, Soundhound (and more) to identify songs when transferred from CDs, or downloaded from sites.
"Together we will become an even greater force in the global entertainment data business," Shashi Seth, president of Tribune Digital Ventures, said in the statement.
