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Radionomy picks up Winamp for $5-10 million

Posted on Wednesday, January 15 2014 @ 11:30:54 CET by


Winamp logo
Winamp has been saved! Two months ago it looked like the popular MP3 player would vanish as AOL pulled the plug on it but now we hear that digital audio firm Radionomy reportedly purchased Winamp in a cash and share deal worth between $5 million and $10 million, with AOL taking a 12% stake in Radionomy in the process. With the addition of Shoutcast to Radionomy's existing assets it will become one of the biggest players in the online radio streaming business, hosting some 60,000 radio stations, roughly half the online radio stations on the market today.
Recall that AOL paid some $80 million for Nullsoft, owner of Winamp and Shoutcast, in 1999. AOL’s stake will be a financial, not a strategic, investment, I’ve been told.

We had been hearing different reports of a deal in progress or a while now — resulting in a stay of execution for both Winamp and Shoutcast after AOL originally intended to shut them both down by December 20, 2013.
Source: TechCrunch


 



 

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