San Antonio, Texas – Radio station owner Clear Channel is
considering an acquisition of the assets of bankrupt digital music service
Playlist.com, CNET News.com reported, citing a source with knowledge of the
negotiations.
Playlist.com, which first launched in 2006 as Project Playlist,
let users create custom online playlists and share them with friends and the
community.
The company was sued by the major record labels, but eventually
settled and licensed their catalogs.
The fees were too expensive for
Playlist.com, however, which filed for bankruptcy in August 2010, owing the
labels a combined $25 million.
Clear Channel is said to be interested in Playlist.com’s
user interface and other technology, according to CNET’s source.
Related Links:
http://news.cnet.com/8301-31001_3-20045978-261.html
