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HELSINKI, Finland (AP) - Nokia Corp. said Tuesday it has agreed to buy U.S.-based digital music distributor Loudeye Corp. for about $60 million as the world's No. 1 cell-phone maker seeks to grab a larger share of the growing digital mobile music market.
Under the deal, Nokia will pay $4.50 for each share of Loudeye, a provider of digital music platforms and digital media distribution services.
"By acquiring Loudeye, Nokia can offer consumers a comprehensive mobile music experience, including devices, applications and the ability to purchase digital music," the Finnish company said.
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