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Real Networks to manage Sprint ringtones, music

Thu, 02/11/2010 - 9:01am
The Associated Press

RealNetworks Inc., a provider of streaming digital music technology, said Thursday that it will manage ringtones and full-track music services for Sprint Corp.

Financial terms of the agreement were not disclosed.

A RealNetworks spokeswoman said the company is taking over from several vendors that performed different aspects of the services for Sprint. Customers who purchase ringtones, ringback tones — tones that callers hear — and music now will be using services handled by RealNetworks.

The value of the deal was not disclosed.

Shares of RealNetworks, based in Seattle, rose 6 cents to $4.45 in afternoon trading. Sprint, based in Kansas City, Mo., lost 10 cents, or 3 percent, to $3.26.

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