eMusic, one of the Internet's first digital music stores, has been sold to cloud media startup TriPlay. Terms of the deal weren't disclosed, but in a statement TriPlay maintains that eMusic's employees and executives will be retained in the companies' integration. The news was first reported by The New York Times.
MyMusicCloud, TriPlay's music store and cloud listening app, currently offers 23 million songs, which do not include the major labels' catalogs. A year ago, eMusic itself dropped the majors' catalogs from its store, but maintained a large offering of independent music. "We are focused on the advanced indie music lovers," TriPlay CEO Tamir Koch tells Billboard. But the acquisition offers more than just eMusic's indie relationships and the opportunity to augment TriPlay's current store catalog.
Koch tells Billboard formal discussions with eMusic had been underway for the past four years.