We’re covering it in details on paidContent.org:
—MTV-RNWK Music Venture: The Financial Details; Cash Plus $230 Million Note From MTVN
—MTV’s And RealNetworks Music JV: New Company Rhapsody America; Talks With Microsoft Ongoing
— MTV-RNWK Music Venture: Rhapsody America Expected To Pull In $500K In Q3 Revenue
Meanwhile, on the deal with Verizon Wireless, Rhapsody America has formed a long-term and exclusive relationship with the operator. Rhapsody will be fully integrated with Vcast Music. VZW will also market Rhapsody through its network of stores, when the service launches on mobile phones.

From the conference call with more details: The Role Of Verizon Wireless: Real began an active dialogue with Verizon about a year ago on extending the companies’ relationship beyond ringtone-related services. While RealNetworks CEO Rob Glaser said the focus of today’s calls were on the business alliance between the three, he did allude to the creation of additional product launches. “You can look at all three companies and ask ‘What would be some obvious things that would make them work together really well?’ When you download music on your PC with Rhapsody, you want to be able to move that to your mobile phone in smooth way. That’s logical block and tackling… We brought Verizon in to create scale in a market that, up to now, has been pretty fragmented.” Later on, in answer to a question about whether the current agreements with record labels have been renegotiated - “in some instances, you might be selling the same song three different times” - Glaser said that given the complexities of the deal, it was considered too much to bite off to alter any existing arrangements with music companies. “If a consumer decides to buy a song three different places, we obviously won’t stop them. But we do want to make it easier for them to exercise dual delivery options, which already do with Verizon to some extent.”

Our earlier post last night on it and the deal with Verizon Wireless: MTV Closing Urge Music Service, Merging With RealNetworks’ Rhapsody; Verizon Deal