Rdio Was Losing $2 Million Each Month Before Bankruptcy

On Monday, Rdio declared Chapter 11 bankruptcy in one of the bigger busts in the era of streamed music. The filing was expected after an announcement that the on-demand service would sell some of its key assets to Pandora for $75 million, but court papers lodged in U.S. Bankruptcy Court in San Francisco, California reveal more about the company's financial state.
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