Nokia Gets Ok on NAVTEQ Acquisition, Snags Warner for Comes With Music
And here’s some random bits of Nokia-related news posted in the past couple of days…
Nokia added the Warner Music Group, third largest record label in the world, to its Comes With Music service. Comes With Music is actually a weird subscription-based program that gives phone buyers a year of unlimited free song downloads. After that year expires, you gotta pay, but you’ll still get to keep the tunes. That is, until you either get rid of your phone or your PC, either of which will require you to fork over some more cash.
Warner Music Group joins Sony BMG and Universal Music Group, which means Nokia has signed up three of the four largest record labels in Comes With Music. The final holdout, EMI, is apparently still in “licensing talks.”
And on another note, the European Commission ok’ed Nokia’s planned acquisition of digital mapmaker NAVTEQ, which means the deal is now good to go. It’s expected to close sometime around July 9th. I’m sure the employees of NAVTEQ are pleased to hear what CFO Rick Simonson expects of them:
“I have told them: you must grow that business with all those other customers. Nokia will take care of itself, but you must grow with the other customers. That’s what we paid for. I want it faster, and I want more.”