– Rhapsody, the digital music service launched by RealNetworks (NASD: RNWK) seven years ago that
would later become a joint venture with Viacom’s (NYSE: VIA) MTV Networks, has officially
spun-off to become an independent company. Under the terms, the two companies will jointly own 95% of the new entity,
International will receive $18 million from RealNetworks and $33 million in
advertising commitments from MTV.
To coincide with the split, Rhapsody debuted a new
discounted pricing structure and a mobile application for the Android platform.
The new Rhapsody Premier subscription plan offers unlimited streaming to any
Internet-connected device — including mobile phones — for $10 per month;
previously, a plan that included mobile cost $15 per month.