RealNetworks shares down after Microsoft and MTV announcement

By Derek Sooman on December 15, 2005, 7:05 PM
Amid news that Microsoft Corp. and MTV Networks would roll out an online music service early next year, RealNetworks Inc. shares dropped more than 4 percent in trading on Wednesday. The service will directly compete with RealNetworks' music offerings, so itís not a great day for Real.

The venture between Viacom Inc.'s MTV and Microsoft, called URGE, is expected to roll out next year and will incorporate Microsoft's Windows Media Player, and will sell 2 million tracks individually, or as part of a subscription package. URGE is also expected to roll out an online radio service, as well.

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