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Aug. 30, 2021, 12:43 p.m. EDT

Apple buys Primephonic classical music service, will launch dedicated classical music app next year

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By Tomi Kilgore

Apple Inc. /zigman2/quotes/202934861/composite AAPL -1.17% 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 /zigman2/quotes/210598365/realtime COMP -1.92% has advanced 11.0% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.17% has gained 2.7%.

/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 161.84
-1.92 -1.17%
Volume: 118.02M
Dec. 3, 2021 4:00p
P/E Ratio
28.86
Dividend Yield
0.54%
Market Cap
$2655.21 billion
Rev. per Employee
$2.38M
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/zigman2/quotes/210598365/realtime
US : Nasdaq
15,085.47
-295.85 -1.92%
Volume: 4.96M
Dec. 3, 2021 5:16p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,580.08
-59.71 -0.17%
Volume: 444.85M
Dec. 3, 2021 5:35p
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