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CNET acquires MP3.com [updated]
November 14, 2003 - 00:06 PST
CNET Networks has acquired certain assets of MP3.com, and plans to introduce a new online music service in the near future. On Tuesday, December 2, 2003 at 12:00 p.m PT the MP3.com Web site will no longer be accessible in its current form, according to the company. "On behalf of all of us at MP3.com we thank you for your patronage and continued support," MP3.com said in a statement. "It has been a privilege to host one of the largest and most diverse collections of music in the world. MP3.com wishes to express its sincere thanks to each of you for making us your premier destination for music online." Representatives from CNET and MP3.com were unavailable for comment.
Update: MP3.com has now posted an official announcement with details of the acquisition. The company noted that "promptly following the removal of the MP3.com website, all content will be deleted from our servers and all previously submitted tapes, CD-ROMs and other media in our possession will be destroyed." MP3.com said CNET plans to introduce "new and enhanced artist services."
Update #2: CNET sent MacMinute the following statement: "CNET Networks, Inc. has signed a definitive agreement with VUNet USA to acquire the assets of MP3.com, Inc. The deal is scheduled to close in December. We are not at this time disclosing transaction terms."
"With this move, we are further enhancing our position as a premier global provider of interactive content. In 2004, we plan to enter the online music market, which has a very attractive demographic that is similar to our GameSpot Web site, the most highly trafficked gaming content site. We plan to launch a Web site that will be 'the place you go to know' about music."
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