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News-Corp backed Spotify rival, Beyond Oblivion, shuts down service
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Music startup Beyond Oblivion has shut down without ever launching a full version of its service, having failed to sign the deals it needed with partners including music labels and device manufacturers. The move is a blow to its investors, with the firm having raised USD87m from a number of high-profile investors including News Corp, the Wellcome Foundation and investment bank Allen & Co. CEO Adam Kidron blamed the failure on the challenges associated with "co-ordinating the diversity of the ecosystem".
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