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Archive for August 12th, 2009

Here is some inside news from Digital Media Wire in regards to Spotify.

Palo Alto, Calif. – Spotify, the European ad-supported streaming music service preparing for a U.S. launch, has sold a 17.3% stake in the company for about $12.4 million to the four major record labels and independent label aggregator Merlin, TechCrunch reported.

The report cites an “unverified capitalization table” obtained from a filing in Luxembourg, where Spotify is based.

The obtained document shows that Sony BMG owns 5.8% of Spotify, compared with 4.8% for Universal Music; 3.8% for Warner Music; 1.9% for EMI; and 1% for Merlin.”

Read the full article  here.

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