Yahoo! Acquires MusicMatch

Yahoo! announced its acquisition of MusicMatch. The deal is said to be in range of about $160 million. That's how much the company's paying for San Diego-based MusicMatch so it too can offer an online music store.

Here's the AP with details:
The all-cash acquisition gives Sunnyvale-based Yahoo a major drawing card as it competes against the likes of Apple Computer, Real Networks and Napster in the rapidly growing field of digital music management.

MusicMatch will provide Yahoo with two features that it doesn't currently offer -- an online music store that sells individual songs for 99 cents apiece and a popular software program that helps manage digital music on computer desktops.