The former heads of iRiver, MusicMatch, and portable MP3 manufacturer Rio are now banding together to create a digital music service.
An early member of the team shared top-level details with Digital Music News on Tuesday afternoon, though more information will be revealed later this month. The source pointed to a “new service and device” that will launch “within the next couple of months,” and the involvement of a number of digital music veterans. Co-founders will be Dennis Mudd, founder of MusicMatch; Jonathan Sasse, former president of iriver America; and Jonathan Cady, former head of Rio, according to the source. Late last week, a blog in Wired News pointed to a company that will be named “Broadband Instruments,” and the involvement of venture firms Sevin Rosen Funds and AustinVentures. Additional investigation points to company that will be based in San Diego, though that information has not been confirmed.