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|Microsoft buys Liquid Audio patents|
Last Update: 9:56 AM ET Sep 30, 2002
REDMOND, Wash. (CBS.MW) -- A pioneer in developing technology to allow downloading of music files while protecting copyright owners from piracy has sold its domestic and foreign patent rights to Microsoft (MSFT).
Liquid Audio (LQID) will receive $7 million for the digital rights management tools. "Selling the rights," said Gerry Kearby, president of Redwood City, Calif.-based Liquid Audio, "is consistent with our move away from product development and toward an exclusive focus on the digital distribution of media to the retail community."
The deal comes as Liquid Audio prepares to complete its merger with Alliance
Entertainment, a privately held company based in Coral Springs, Fla., that
specializes in business-to-business infrastructure services geared at home
Al Massey, Computer Technology Journalist
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Web Development, Gill Boyd & Team - Posted 9/30/2002; Revised 02/01/2003