Supermarket giant Tesco has acquired a 91 percent stake in music streaming service We7, and plans to buy the rest of the company in the coming weeks.
A Tesco spokesperson said that the deal would allow it to offer customers "a wider choice in how they consume music, complementing Tesco's current music offer in store and online". The purchase cost the company a mere £10.8 million -- a relative drop in the ocean in terms of Tesco's finances. The supermarket made a profit of £3.4 billion in 2009-10.
By: Duncan Geere, Edited by: Nate Lanxon
Continue reading...Source: http://www.wired.co.uk/news/archive/2012-06/15/tesco-buys-we7
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