AFI BLOG: Media and Technology

Yahoo Press Release

Sony to buy digital media ID company Gracenote for $260 million

Sony Corp. of America said Tuesday it agreed to buy digital media identification company Gracenote Inc. for $260 million.
Gracenote’s database supplies song names for CDs in a computer. It is also working on building a movie library to identify DVDs and determine if online videos contain copyrighted material.

Using Gracenote’s platforms, “Sony expects to significantly enhance and accelerate its own digital content, service, and device initiatives,” Tim Schaaff, SCA’s senior vice president of software, said in a statement.

The deal is expected to close in late May. Gracenote’s senior management will stay with the company, Sony said. The deal includes other “contingent consideration” on top of the $260 million, the company said without giving details.