Muve Music, which with 2 million subscribers is one of the most successful paid music services in the US, is on the auction block according to sources. The bidding process has already begun. But if no buyer is found, owner AT&T says it will likely shut Muve down.
Created and marketed by Cricket Wireless, Muve grew quickly after its 2011 launch to more than 2 million subscribers last year. But since AT&T bought Cricket's parent company Leap, the future of Muve has been uncertain.
Yesterday, while not commenting on the sale, an AT&T spokesperson admitted that Muve was unlikely to be part of the wireless carrier's future music plans. âAfter a careful review, weâve decided to explore alternative music options to Muve. For now, nothing changes for our Muve customers. Theyâll continue to enjoy their Muve experience at this time, as we evaluate alternative music options,â the spokesperson told the New York Times.
There have been no leaks yet as to who might bid for Muve. One possible suitor for Muve's 2 million subscribers could be Beats, who have reportedly struggled to gain momentum.