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Source:CenterNetworks

Rafat Ali over at PaidContent is reporting that RealNetworks has acquired Listen.com for $36 million in a cash and stock transaction. Earlier this year RealNetworks made an investment in Listen.com. Listen.com includes the Rhapsody music service.

Rafat notes, "As part of the agreement, Listen.com’s management team will be joining RealNetworks. CEO Sean Ryan will continue to lead the Listen.com team as VP of music services as part of the RealOne division. Rob Reid, founder of Listen.com, will join RealNetworks as VP of strategic development. Listen.com will remain in San Francisco and will continue to operate music services for its customers and distribution partners."

Rafat has more commentary on the distribution partners and what the deal means for Real — basically upsell potential for consumers into other Real services.

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This entry was posted on Wednesday, July 2nd, 2008 at 5:34 pm and is filed under music, acquisition, Quick News, realnetworks, paidcontent. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.