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From NYTIMES
AOL and Emusic in Deal August 17, 1999
By THE ASSOCIATED PRESS
ULLES, Va. -- America Online Inc. has reached a three-year deal with the Internet music service Emusic.com that will allow online visitors to buy and download music from three Web sites owned by AOL.
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Under the agreement, Emusic's 20,000-song collection will be available on AOL's Spinner.com and Winamp.com, as well as ICQ.com, a chat service. Emusic will develop co-branded sites for the three services, selling music in the MP3 format.
Emusic, which is based in Redwood City, Calif., will pay America Online a fixed marketing fee and a share of transaction revenue. The company sells albums for $8.99 and individual songs for 99 cents. The company's catalogue includes alternative, blues, hip-hop, jazz, pop, punk, techno and Indie rock music.
Earlier this year, America Online acquired Spinner.com, the Internet's largest music service, and Nullsoft, which makes the music player Winamp, in a deal worth $400 million in stock.
America Online, based in Dulles, Va., is a leading Internet provider with more than 17 million members.
Shares of Emusic rose $1.3125 each, to $16.4375, in Nasdaq trading.
Shares of AOL closed at $94.9375, down $1.9375, on the New York Stock Exchange.
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Emusic.com
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ICQ.com
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