Radio streamer TuneIn acquired for $175M

Internet radio service TuneIn, a competitor of sorts to Sirius XM and other streamers that was valued at around $500 million during its heyday, has sold for just $175 million. The acquirer is the music and technology company Stingray Group, which will pay $150 million at closing and up to $25 million one year later. It financed the deal with a loan under its renewed credit facility, the company said on Wednesday. Founded in 2002, TuneIn was an early player in the online music space. Unlike rivals such a ...