AOL (AOL) Closes AOL Music Unit
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AOL, Inc. (NYSE: AOL) is on its way up Friday afternoon amid reports it might be shutting down one of its key services.
TechCrunch, citing online news site Spinner, noted that AOL has shut down AOL Music. Not only that, but everyone in the unit was fired.
AOL acquired Spinner for $400 million in 1999, TC noted.
We're not sure how well AOL Music was doing, but the likes of Pandora (NYSE: P), Spotify, and Amazon (Nasdaq: AMZN) couldn't be helping matters out too much.
Shares of AOL are down 0.7 percent, but were off as much as 2.5 percent at one point.
TechCrunch, citing online news site Spinner, noted that AOL has shut down AOL Music. Not only that, but everyone in the unit was fired.
AOL acquired Spinner for $400 million in 1999, TC noted.
We're not sure how well AOL Music was doing, but the likes of Pandora (NYSE: P), Spotify, and Amazon (Nasdaq: AMZN) couldn't be helping matters out too much.
Shares of AOL are down 0.7 percent, but were off as much as 2.5 percent at one point.
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