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Prodigy Buys Stake in SonicNet

Prodigy has invested in an online music industry information service called SonicNet. The service will provide Prodigy with content and a link to their site.

Prodigy announced it has purchased a stake in Sunshine Interactive's SonicNet, an online music industry information service.

Under the agreement, SonicNet will provide Prodigy with exclusive use of original content and a direct link to the SonicNet site. SonicNet offers chat forums, record and performance reviews, and links to other music industry-related sites.

The company did not disclose the financial terms of the arrangement, but said it plans to hire additional staff to assist SonicNet with content development.

The investment is the first for Prodigy's new Wildflower Partners division which provides financial support and distribution to Net-based content providers.