Clear Channel Radio Acquires Thumbplay's Cloud-Based Music Business
Date: Tuesday, March 01, 2011 @ 11:02:13 UTC

Thumbplay has yet to reach its one-year anniversary in the music subscription space - and it now it seems that it will never do so, as the company is selling the service to Clear Channel Radio. A release that hit the wires last night did not disclose a selling price, but All Things Digital's Peter Kafka reports that "a source familiar with the company tells me investors who put some $41 million into the company don't expect to get all their money back." Kafka also reports that Thumbplay's subscription service only has 20,000 subscribers (since launch in March 2010), all of which pay $10 per month for unlimited music (a standard pricing embraced by comparable companies, MOG and Rdio). Complete Article

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