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Slacker Radio is acquired by LiveXLive Media for $50M

The streaming music service will merge with the live music network company.

Slacker Radio has a new owner.

Slacker Radio, one of the longest-running streaming music services in the US, is being acquired by the live music network LiveXLive Media in a deal worth $50 million in cash and stock, the companies announced Friday.

Slacker Radio was founded in 2006 and offered a twist on streaming music by blending a Pandora-like service into its own iPod rival: the Slacker Portable Player

Much like any of the streaming apps of today, including Slacker, you could download curated music stations onto the device and listen to them anywhere you went. This may be commonplace now, but it was a big deal at a time when the original iPhone barely had an App Store.

Following the release of its sequel, the G2 Personal Radio Player, Slacker eventually left the hardware business in favor of apps for the iPhone, Android phones and even the Palm Pre.

That said, it looks like Slacker Radio isn't going anywhere despite the new ownership. LiveXLive says it plans to use Slacker Radio's music service to complement its existing video programming.