AOL To Stream Internet Television With MP3 Technology

America Online Inc. has announced a $400 million stock offer to purchase Internet music companies Spinner Networks Inc. and Nullsoft Inc. The move is calculated to give AOL customers access to me latest technology for playing and recording music over the Internet.The Spinner.com site is an Internet radio service that reportedly has 1.5 million users each month and broadcasts 2 million songs daily. Nullsoft is a developer of MP3 Winamp player and SHOUTcast streaming audio technology, which enables downloading of music for free.AOL President Bob Pitman said of the MP technology:"" Itís an important product for high-speed services, and we see it as an opportunity for devices such as AOLTV and hand-held devices.""AOL will develop with Spinner and Nullsoft music products for users of high-speed Internet services and for Internet television. AOL is competing with companies such as Lycos Inc. that are developing online music services to attract users to their Web sites.