Twitter in talks to buy online music firm SoundCloud - FT
REUTERS - Microblogging platform Twitter Inc has been in talks with Berlin-based audio sharing website SoundCloud in its efforts to add a music service to its offering, the Financial Times reported citing people familiar with the matter.
Twitter has weighed up deals worth billions of dollars and has also considered buying music-streaming service Spotify and internet-radio provider Pandora Media Inc, the newspaper. (r.reuters.com/heh89v)
SoundCloud is a platform that enables people to upload, record, promote and share their music and other audio files.
The company has aggressively expanded its capabilities to carry multimedia content. Last year, it acquired "We Are Hunted," a three-person music streaming-startup from Australia.
SoundCloud declined to comment on the deal while Twitter did not immediately respond to an email seeking comment outside regular U.S. business hours.
Twitter's renewed interest in music-streaming companies comes after Apple Inc acquired Beats, the headphones and music-streaming firm founded by Jimmy Iovine and Dr. Dre, for $3 billion.
The Beats deal was seen as Apple's effort to jumpstart an uneven attempt to make headway in music streaming, the fastest-growing segment of the market, as iTunes sales decline.
Pandora Media and Spotify have raced ahead while Apple's eight-month-old iTunes Radio has not made much of a dent.
(Reporting by Ankush Sharma in Bangalore; Editing by Gopakumar Warrier and Joyjeet Das)
- Tweet this
- Share this
- Digg this
- Google launches new email service dubbed "Inbox"
- Lax security in focus after attack at Canada's parliament
- Canada's parliament attacked, soldier fatally shot nearby
- China's Xiaomi shifts some smartphone user data out of Beijing on privacy concerns
- Attack on parliament, killing of soldier stun Canada's capital
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article