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Published on .

(June 28, 2001) -- Yahoo! has agreed to buy online music company Launch Media as a way of expanding its online entertainment offerings.

The Santa Monica, Calif.-based company is being bought for 92 cents per share or a total price of $12 million.

Launch, which provides music and related content, will be coordinated with other music-focused Yahoo! operations, including Yahoo! Music, and Yahoo! Radio and Yahoo! Broadcast.

David Goldberg, Launch founder and CEO, and Bob Roback, founder and president, will remain with the company, which will continue to operate out of Santa Monica. -- Catharine P. Taylor

Copyright June 2001, Crain Communications Inc.

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