Clear Channel has emerged as the buyer for mobile music service Thumbplay, which we learned yesterday was up for sale.
The sale, as expected, revolves around the Thumbplay Music on-demand streaming music service, which is available as a smartphone app for iPhone, BlackBerry and Android devices. Thumbplay is pursuing a separate sale of its subscription ringtone business.
Terms of the sale are not known, but an AllThingsD post points to a likely bargain. Thumbplay only managed to sign up about 20,000 subscribers for its $10 a month plan since it launched 12 months, according to the report.
Clear Channel plans to integrate Thumbplay music into its iheartradio app in some fashion, starting with its customized radio feature, but it doesn't seem as if it will start offering on-demand subscriptions right off the bat.
According to a press release, acquisition of Thumbplay will allow Clear Channel to, "leverage its significant radio assets across all digital platforms, including the Internet, automotive and mobile devices."
Billboard.biz is speaking with Bob Pittman, chairman of Clear Channel's media and entertainment platforms, later today and will have more details then. Pittman told AllThingsD that the 65 Thumbplay employees who worked on the Thumbplay Music product will have jobs at Clear Channel.