News Summary

• Internet radio service TuneIn, a competitor of sorts to Sirius XM and other streamers that was valued at around $500 million during its heyday, has sold for just $175 million.
• The acquirer is the music and technology company Stingray Group, which will pay $150 million at closing and up to $25 million one year later.
• TuneIn was an early player in the online music space.
• Unlike rivals such as Apple Music or Spotify Premium that offer ad-free, subscription-based music on demand, TuneIn focused on streaming traditional radio stations over the internet.