Tribune buys music data service from Sony for $170 mn

Dec 23, 2013
The Sony headquarters building in Tokyo on May 9, 2013

US media company Tribune plans to acquire Gracenote, a giant in music data, for $170 million from media giant Sony, the companies announced Monday.

Gracenote is a leader in "metadata" enabling online music services, as well as smartphones and tablets, to recognize and describe musical works.

"Gracenote is the industry standard for music recognition technology and its database gets 550 million look-ups each day and more than 16 billion every month, making it the most trafficked music data source on the planet," said Tribune in a statement.

Tribune plans to combine Gracenote with its Tribune Media Services, which provides television and movie metadata.

Sony said it expects the sale to close prior to March 31, 2014, subject to regulatory approvals.

Sony had announced its acquisition of Gracenote in 2008. Sony Monday estimated that the company would book a gain of about $60 million when the sale is complete.

Explore further: Sony targets $250M in cuts to movie studio

add to favorites email to friend print save as pdf

Related Stories

Sony uniting strengths at online network

Sep 27, 2011

Sony on Tuesday rolled out a new way to explore online video as the Japanese entertainment titan battles to be the preferred Internet venue for games, music, films and television.

Sony rejects Loeb proposal for entertainment sale

Aug 06, 2013

(AP)—Sony's board has unanimously rejected a U.S. hedge fund manager's proposal that it sell part of its entertainment business, sending the Japanese company's shares down more than 5 percent.

Matching fans to music tops record industry agenda

Feb 01, 2012

After a decade-long battle against file-sharing, music and technology giants are now pushing users to share to their hearts' content, with online music recommendations a key issue at the MIDEM trade fair that ...

Sony's Music Unlimited comes to Android

Jun 16, 2011

Sony has released an app making its Music Unlimited online streaming available on smartphones running Google's Android system, amid growing competition from Amazon and Apple in cloud-based services.

Recommended for you

Pfizer's 2Q profit sinks 79 pct but tops forecasts

58 minutes ago

(AP)—Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a business spinoff gain of more than $10 billion. The latest results still edged ...

Aetna 2Q profit rises 2.4 percent

59 minutes ago

Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer beat analyst expectations and raise its 2014 earnings forecast again.

Merck 2Q profit more than doubles

1 hour ago

A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double its second-quarter profit, raise the lower end of its profit forecast and easily top analysts' expectations.

Amazon launches 3D printing store

22 hours ago

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

User comments : 0