VOD Portal Audiotube Buys Sputnik7 Network

UK online VOD portal Audiotube has acquired online entertainment network Sputnik7.com from PalmEntertainment. No terms were disclosed. Sputnik7.com, started over eight years ago by Island Records founder Chris Blackwell and MTV co-founder Les Garland, offers video and audio on demand, including music videos and radio stations and hosts DRM-free online indie music catalogue Epitonic.com. Audiotube plans to migrate both sites onto a social network platform it is developing to give users a place to swap information, share playlists and discuss music. It also plans to offer music labels branded channels where they can market and promote their new products. Release.

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