RealNetworks Sells $29.3 Million Stake In Digital Music Company LoEn

RealNetworks has sold its stake in Korean digital music distributor LoEn Entertainment for $29.3 million in cash, according to an SEC filing.  RealNetworks is not saying who bought the shares, but Affinity Equity Partners recently aquired majority stake is LoEn and its Seoul Records brand from SK Telecom.

RealNetworks, bought 11% of LoEn in 2008, and sold a portion of it last year, according to GeekWire. Real is working turn around its business under founder Rob Glaser, who returned as the company’s interim CEO.