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Technology Stocks : Loudeye Technologies, Inc. (LOUD)
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To: Kirk Pearson who wrote (10)4/25/2000 9:40:00 PM
From: Chip McVickar  Read Replies (2) of 83
 
SEATTLE (Reuters) - Loudeye Technologies Inc. (LOUD.O), which converts music, video and pictures into digital forms for delivery over the Internet, said on Tuesday that Sony Music Entertainment would use its service to encode music clips for its Web sites.

Sony Music (7930.T) planned to integrate 30-second music clips on several sites, including a business site for music retailers that carries information on Sony artists, songs, cover art and posters.

Loudeye said it would convert the clips into Microsoft Corp.'s (MSFT.O) Windows Media and RealNetworks Inc.'s (RNWK.O) RealMedia formats -- two popular but rival technologies for presenting audio and video on the Web.

The deal, exact terms of which were not disclosed, adds another high-profile record label to Loudeye's list of clients, which include BMG Entertainment, EMI-Capitol Music Group and Warner Bros.

For Sony, the move is another step in its push to bring its content to the Internet. On Monday, the Japanese entertainment giant unveiled plans to start selling digital music online, letting fans download songs from artists like Lauryn Hill and Pearl Jam.

Shares in Loudeye ended up 15/16 at 26 in trading on the Nasdaq on Tuesday.

17:11 04-11-00
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