Amazon buys online music retailer Amie Street
Amazon.com Inc., seeking to expand its position in the music download market against rivals such as Apple Inc.'s iTunes Store, has purchased online music retailer Amie Street for an undisclosed amount.
In an e-mail to users Wednesday, Amie Street acknowledged the sale and said Amazon first invested in the company nearly four years ago.
Unlike online music stores like Amazon MP3 and the iTunes Store, the site has allowed users to buy songs that start free and become increasingly expensive as they rise in popularity.
The e-mail said that starting Sept. 22, AmieStreet.com visitors will be forwarded to Amazon.com Web pages, and AmieStreet.com will be shut down. Users have until then to spend credit they have with the site or download songs they've already purchased.
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