steve et all, ***HUGE NEWS***** MTV takes stake in RIO!!
news.com
MTV Networks Online today joined forces with Diamond Multimedia subsidiary RioPort to expand its online offerings to include secure music downloads, the companies said.
Under the terms of the deal, MTV Networks will get what president Fred Seibert characterized as a "significant" stake in RioPort, which builds hardware and designs software for music downloading and also operates RioPort.com, a download and information site. Seibert declined to specify the size of the stake, though he said it is a minority.
MTV Networks Online will provide content to RioPort and will promote RioPort's site and products on all its sites, the firms said. MTV Networks Online also will get a cut of revenues from the sales of music downloads; the firms declined to give further financial details. RioPort, for its part, will create the infrastructure for MTV Networks Online's properties to offer secure music downloads.
With SDMI on the minds of both RioPort and MTV Networks, the two have signed on their first major record company: Universal, which will offer access to its content for download using the RioPort technologies on MTV Networks' sites, Seibert said. He added that the two firms are "in discussions with all the major labels to provide their content," and they plan to offer content from independent labels as well.
Along with offering music downloads, the firms plan to offer sales of concert tickets and other merchandise, in what Seibert said will be a "dizzying array" of offerings.
"We want to be there to help consumers have the experience they have been asking for," which includes all manner of sales as well as downloads. He added that with MTV Networks' purchase of streaming Net radio firm Imagine Radio in February, the sites will offer content in every way consumers are demanding it.
Hiram
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