AudioNet, Dallas-based provider of broadcast services for audio and video content over the internet, has completed a second round of financing, netting about $22m. The primary investors this time around were Motorola Inc, Intel Corp and Yahoo! Inc. Secondary investors were Hicks, Muse, Tate and Furst Inc and Killion McCabe & Associates. Yahoo had announced last week that it was pumping $1.35m into AudioNet. As part of the deal, AudioNet will provide Yahoo! with access to its live and on-demand audio and video content, which include real-time radio, live sports and music. Yahoo’s link with AudioNet comes as part of its mission to provide more varied content to effectively compete with online services such as America Online. It is unclear how much Intel or Motorola has invested in the company, although Motorola is reportedly the largest investor in the group, having pumped money into AudioNet since 1996.
