San Antonio, Texas – Radio station owner Clear Channel
announced on Tuesday that it has acquired mobile entertainment publisher
Thumbplay’s cloud-based music service, platform and employees. Financial terms
of the deal, which does not include Thumbplay’s ringtone business, were not
disclosed.
Clear Channel said the deal will add to its own iHeartRadio digital
product development team, and enable it to deploy a variety of subscription
services.
The iHeartRadio platform is used on Clear Channel’s 750 online radio
stations, and its related apps count 24 million downloads to date.
"Because
the entire digital radio space is still in its infancy, with only 3% of total
radio listening hours, we think a new, dramatically enhanced version of
iHeartRadio will build on our position as the leaders in digital radio,
offering an unparalleled combination of features and reach — to our listeners,
advertisers, artists, music labels, and other partners — not available
anywhere else," said Clear Channel Radio president and CEO John Hogan.
Related Links:
http://tinyurl.com/46fz3zk
http://tinyurl.com/4dgzdmu (DMW previous coverage)
