Onkyo Sells Streaming Service To French Company Qobuz
French streaming service Qobuz has bought an 85 per cent stake in hi-res music download service e-Onkyo.
The music service previously belonged to Japanese stereo manufacturer Onkyo, who retain 14.9 per cent of the business. Onkyo recently sold out its entire AV division to Klipsch-owner VOXX.
These sales are so Onkyo can “focus on its core business” and “plan to restructure its activities”.
Qobuz launched in Australia this April with a library of 70 million hi-res tracks to both stream and download. No doubt e-Onkyo will be folded into the company’s main offering.