Funny this: While MusicNow CEO Scott Kauffman was holding forth on the online music subscription business–and how successful they have been–yesterday at a panel at the Digital Hollywood conference, the assets of his company were being bought by Circuit City. (Well, in hindsight, I do think he was slightly down-and-out: must be either the deal closing or that he was sad to see his company being acquired: when asked about whether the subscription or download model will win out in online music he said: “The answer lies deep in the belly of the consumer, and the consumer doesn’t know what that answer is yet…”)
The news: Circuit City is getting into digital music business: it is acquiring the assets of the troubled online music company MusicNow. Terms of that acquisition were not disclosed. The music download service will retain its brand and will be marketed through the retail stores of Circuit City and the CircuitCity.com website…
MusicNow is one of the oldest online music services, and was originally called FullAudio…it also had one of the unlikeliest locations for an online music company: Chicago..
Guess MusicNow’s relationship with BestBuy (which is now heavily pushing Rhapsody), has ended…
News.com: The company, which currently powers services from SBC Communications, Charter Communications, and others, said it would continue to serve other customers in addition to Circuit City
Related:
– Full Audio to Rebrand and Relaunch with MusicNow
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