Yahoo Buys Launch
Jun 29, 2001, 12:00 AM
Yahoo Inc. is buying online music site Launch Media to add to its entertainment lineup. Yahoo said Launch services would complement its music, broadcast and radio offerings. Launch will provide access to on-demand music videos, artist features, and music news. Under terms of the acquisition, Yahoo will acquire all of Launch's outstanding shares at 92 cents each. The deal represents about $12 million in stock purchases. Launch shares closed Wednesday sales at 58 cents.