Wednesday, May 28, 2003 - RealNetworks Is Launching Own Online-Music Network - RealNetworks Is Launching Own Online-Music Network "... The jostling for position has juggled the lineup of competitors. RealNetworks' offering is based on the Rhapsody service from Inc., a closely held San Francisco company that RealNetworks agreed to acquire last month. RealNetworks no longer will promote MusicNet, a venture of RealNetworks and recording companies EMI Group PLC, AOL Time Warner Inc. and Bertelsmann AG.
Thus, RealNetworks will be competing with its own investment. RealNetworks owns about 40% of MusicNet and this month invested about $4 million in the service as part of MusicNet's $10 million round of financing. Mr. Sheeran said the company would continue to provide underlying technology to MusicNet, which is offered on AOL Time Warner's AOL service, but would vie for retail customers."

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