Yahoo! and Musicmatch Announce Completion of Acquisition; Musicmatch Becomes a Wholly-Owned Subsidiary of Yahoo!SUNNYVALE, Calif. & SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Yahoo! Inc. (Nasdaq:YHOO YHOO Yahoo! Inc. (NASDAQ symbol) ), a leading global Internet company, and Musicmatch Inc., a leading provider of personalized music software and services, today announced the completion of Yahoo!'s acquisition of Musicmatch. Founded in 1997, Musicmatch pioneered complete digital music management technology. Its assets include Musicmatch Jukebox This article or section has multiple issues: * Its neutrality is disputed. * It may contain original research or unverifiable claims. * It may need a complete rewrite to meet Wikipedia's quality standards. software, which allows consumers to play, burn, download, discover, and organize an entire music collection; the online Musicmatch Radio network; and the Musicmatch Music Store, an a la carte song download service, which offers access to more than 700,000 tracks. Most recently, the company introduced the Musicmatch On Demand streaming music subscription service, providing unlimited access to more than 700,000 songs. The merger was completed on October 18, 2004. Musicmatch was acquired for a purchase price of approximately $160 million in cash. About Yahoo! Yahoo! Inc. is a leading provider of comprehensive online products and services to consumers and businesses worldwide and is the No. 1 Internet brand globally. Headquartered in Sunnyvale, Calif., Yahoo!'s global network includes 25 World properties and is available in 13 languages. About LAUNCH LAUNCH (http://launch.yahoo.com), the music destination on Yahoo!, offers the most comprehensive music-related content, features and information available online. LAUNCH provides a wide selection of streaming audio A one-way audio transmission over a data network. It is widely used on the Web as well as company networks to play audio clips and Internet radio. Computers in home networks stream audio (mostly music) to digital media hubs connected to home theaters. , the Web's largest collection of music videos, exclusive artist features and music news covering all genres of music to Yahoo! visitors. Additionally, LAUNCH offers a compelling radio experience with LAUNCHcast, which enables users to customize their own Internet radio Listening to audio broadcasts via the Internet. There are more than 4,000 broadcasts available on the Internet that can be streamed and played by a software media player in the computer or in a stand-alone Internet radio with the software built in. station or listen to dozens of pre-programmed music channels in a variety of genres. About Musicmatch Musicmatch, Inc. is a leader in music software and services, helping people find, manage, enjoy and buy music that best matches their unique tastes. The company invented the digital jukebox (1) Software for managing music files. Also called a "digital music manager," "music manager," or just "jukebox," it lets users organize MP3 and other audio files into playlists, play the songs, rip CD tracks to MP3 and other formats, burn CDs and download titles to portable concept in 1997 and since then has registered more than 60 million users of its best-selling Musicmatch(R) Jukebox A storage device for multiple sets of CD-ROMs, DVDs, tape cartridges or disk modules. Using carousels, robot arms and other methods, a jukebox physically moves the storage medium from its assigned location to an optical or magnetic station for reading and writing. . Musicmatch also has more than 225,000 subscribers to its popular music services, which include the Musicmatch(R) On Demand streaming music subscription service, the easiest way to create the perfect playlist A file that contains an index to a selected group of music files on the computer. Using digital jukebox software such as iTunes and Winamp, playlists are created by the user by dragging and dropping titles from a master index. The software may be able to create a playlist automatically. ; the Musicmatch(R) Music Store, the easiest way to discover and buy music; and Musicmatch Radio, featuring the world's most popular Internet radio station. With more than 700,000 songs available in its ever-expanding catalog, Musicmatch gives music lovers the freedom to enjoy music on their terms. For additional information, visit www.Musicmatch.com. This press release contains forward-looking statements that involve risks and uncertainties concerning Yahoo!'s acquisition of Musicmatch, Inc., as well as Yahoo!'s strategic and operational plans (including without limitation as described in the quotations from management in this press release). Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, the reaction of customers of Yahoo! and Musicmatch to the transaction; Yahoo!'s ability to successfully integrate Musicmatch's operations and employees; Yahoo's ability to successfully make additional investments, product innovations and implement other initiatives; the failure of digital and subscription music sales and music downloads to grow as predicted; and general economic conditions. More information about potential factors that could affect Yahoo!'s business and financial results is included in Yahoo!'s Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2003, and in Yahoo!'s Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the fiscal quarter ended June 30, 2004 including (without limitation) under the captions, "Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations," which are on file with the SEC and available at the SEC's website at www.sec.gov. Yahoo! and the Yahoo! logo are registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners. |
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