MP3.com Makes Undisclosed Investment in PacketVideo
In a move that may predict where its future lies, MP3.com (http://www.mp3.com) said it invested in PacketVideo Corporation (
http://www.packetvideo.com), a software developer that enableswireless multimedia.
The undisclosed investment means that MP3.com is seeing a future where music may be delivered wirelessly. "[It's] a logical extension ofour Music Service Provider concept of consumers being able to access their music from anywhere," said Michael Robertson, chairman and chief executiveofficer of MP3.com.
PacketVideo makes MPEG-4 compliant software that lets viewers watch video and listen to audio over wireless networks like phones, handheld devices and laptops. It recently filed for an initial public offering of its common stock.