Microsofts Online Music Store Announcement Hurts Competitors Shares

SEATTLE (Reuters) – Microsoft Corp., the world’s largest software maker, said on Friday it was interested in offering an online music subscription service, sending shares of online music rivals lower on Friday.

Microsoft, which launched its MSN Music download service last year to rival Apple Computer Inc.’s iTunes, said on Friday that “offering a subscription service was an important step in helping people find and discover great music online.”

People have to realize that people are not likely just leave established online music stores to go to a Microsoft based one. But, we’ll see how well they do. Read about it Reuters.