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Byline: Pete Barlas
The stampede to corner the online music market just got louder.
Last week, Web companies Yahoo Inc. and Real Networks Inc. separately stepped up efforts to grab a piece of the multibillion-dollar online music market.
Yahoo, one of the most-visited Web portals, said it will buy online music and video site Launch Media Inc. for $12 million.
Real Networks, a maker of online audio and video software, signed a pact to provide its audio software to products made by Symbian Ltd. London-based Symbian is one of the largest makers of operating systems for cell phones. By using its products, mobile devices can access digital music.
Big companies like Yahoo and Real are starting to take notice of the fledgling online music business, says Phil Leigh. He's an analyst for Raymond James & Associates, a St. Petersburg, Fla.-based investment bank.
"Big players are getting closer to the threshold of doing something serious (with online music)," he said.