S3 hears Diamond's music

 

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As Diamond preps a new version of its Rio portable MP3 music player, graphics chipmaker S3 snaps up the consumer electronics company for about $170 million. "Today's announcement represents a significant strategic shift for S3." - Ken Potashner, president and CEO of S3

S3 to buy Diamond Multimedia update The leading graphics chip company will purchase Diamond Multimedia Systems, a consumer electronics company which makes products for some of the hottest markets today. New Rio expected tomorrow Diamond confirms the coming introduction of a "new digital audio platform," the likely successor to its Rio portable MP3 music player that carries twice the digital music. MP3 hits high notes in court, summit previous coverage A key federal court ruling and an MP3 lovefest in San Diego give the controversial audio compression technology a boost, much to the dismay of the recording industry.