Internet audio programming company audiohighway.com has struck a deal to acquire Mass Music Inc, an online music retailer, for about $1.3m in stock and cash. The acquisition adds hundreds of thousands of titles for sale to audiohighway’s existing library of free music and news downloads. Terms of the deal call for payment of about 36,000 shares of audiohighway common stock – valued at $1.1m based on Wednesday’s closing price and $200,000 in cash. The Mass Music web site will be redesigned and maintained as a separate online presence, the company said.
