Sony looking to sell Gracenote.

[DamnTastic]

kowenicki said:

DamnTastic said:
Tribune buys Gracenote for $170M

Tribune (TRBAA) says it will acquire media recognition firm Gracenote ffrom Sony (SNE +1.5%) for $170M.

The company plans to use Gracenote to help improve its entertainment metadata services.

Sony bought Gracenote five years ago for $260M.


Wasn't a great investment if you look at the value

whoaaa. Thats a fire sale.

surely it was making money and they paid more than that to buy it?

This will add a one off $60m to this years operating income... but they cant have done it just for that reason!?

Well it would have probably made them some money on the way.
I think the value went down due to aged technology or something.

I don't exactly know what they do, besides tracking music down.