Engadget RSS Feed http://www.engadget.com Engadget http://www.blogsmithmedia.com/www.engadget.com/media/feedlogo.gif Engadget http://www.engadget.com en-us Copyright 2013 AOL Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/ <![CDATA[So, Tesco buys Peter Gabriel's WE7 music service for $16.7 million]]> http://www.engadget.com/2012/06/15/tesco-buys-we7/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget http://www.engadget.com/2012/06/15/tesco-buys-we7/ http://www.engadget.com/2012/06/15/tesco-buys-we7/?utm_source=Feed_Classic&utm_medium=feed&utm_campaign=Engadget#comments Tesco buys UK music service WE7 for $167 million

British Supermarket behemoth Tesco has snapped up WE7, a streaming music service co-founded by Peter Gabriel that offers personalized radio stations to users, for £10.8 million ($16.7 million). The UK's biggest supermarket has purchased 91 percent of the company, with the remaining stake set to be transferred over shortly. It looks like the chain will use WE7's infrastructure and resources as the spine for a beefier music service as British supermarkets look to diversify into the entertainment market following its purchase of Blinkbox last year.

Comments

]]> AcquisitionBlinkboxBusinessBuyoutminipostMusicOnline MusicOnlineMusicPeter GabrielPeterGabrielPurchaseQualcommSpotifySteve PurdhamStevePurdhamStreaming MusicStreamingMusicTescoUKWE7 Fri, 15 Jun 2012 05:53:00 -0400 21|20259199