RealNetworks, MTV to Spin-off Rhapsody Music Service
Date: Wednesday, February 17, 2010 @ 00:00:11 UTC

RealNetworks and Viacom's MTV Networks, partners in the Rhapsody digital music service joint venture, have announced plans to spin-off Rhapsody into a new, independent company. Real, which currently owns 51% of the equity in Rhapsody, and MTV, which owns 49%, will reduce stakes so that each hold an equal stake of less than 50% of the company. The remaining shares will be made available to "one or more minority stockholders." Complete Article

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