Sprint (S Quote) says it will revamp its music offering, dropping a free Sirius Satellite Radio channel (SIRI Quote) and adding a 99-cent music download store.
The move confirms a report from TheStreet.com earlier this month that Sprint had chosen Smith Micro (SMSI Quote) to provide users music kits for swapping song playlists between PCs and phones.
Smith Micro shares surged $2.01, or 12.5%, to $18.61 after the deal was announced. Sirius was down 4 cents to $3.31.
Sprint's new music store is set to open early next month, and the company has partnered with closely held mSpot to provide 10-channel and 40-channel commercial-free music programming options. Previously, Sirius provided a free music channel to Sprint customers, but now Sirius fans will have to pay $6.95 a month for the service. ...
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