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German media conglomerate Bertelsmann AG agreed to buy Myplay Inc., a struggling Silicon Valley company that was one of the first to let consumers store digital music on the Web.
Terms of the deal announced Wednesday weren’t disclosed.
The move by Bertelsmann’s eCommerce Group is the latest by established companies around the world to snap up Internet music start-ups. On May 20, Vivendi Universal SA (V) announced the $372 million purchase of MP3.com Inc. (MPPP), another Internet-music pioneer whose offerings included a service that competed with Myplay’s.
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