Sony Music Acquires 4% Stake in MusicNet
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From Bloomberg News
Sony Corp.’s Sony Music Entertainment unit, which ranked fourth in U.S. album sales last year, bought a minority stake in Internet music service rival MusicNet.
Sony Music, co-owner of the Pressplay online subscription-music service with Vivendi Universal, bought a MusicNet note that is convertible into a 4% stake in the venture.
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