Apple buys Primephonic classical music service, will launch dedicated classical music app next year
Dow Jones2021-08-31
Apple Inc. $(AAPL)$ announced Monday that it has acquired classical music streaming service Primephonic for an undisclosed amount. With the acquisition, Primephonic will no longer be available for new subscribers, and the service will be taken offline staring Sept. 7.
Apple said it plans to launch a classical music app next year, combining Primephonic's user interface with more added features. Until then,
Apple said current Primephonic subscribers will receive Apple's Apple Music service for free.
Apple's stock surged 2.8% in midday trading toward a fresh record close. It has soared 22.6% over the past three months, while the Nasdaq Composite has advanced 11.0% and the Dow Jones Industrial Average has gained 2.7%.
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