New York – Beyond Oblivion, a forthcoming digital music
service, said on Tuesday that it has secured $77 million in new financing.
Wellcome Trust and previous backer News Corp. (NYSE: NWS) led the investment round;
existing investors Allen & Co. and Intertrust Technologies also
participated.
New York-based Beyond Oblivion says its digital music marketplace
will offer songs downloadable and sharable between licensed devices, such as
music players, mobile phones, computers and tablets.
The company will record
play counts, and pay rightsholders a royalty every time their music is played,
"whether or not the file was legally or illegally downloaded, ripped or
shared."
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