Vivendi closes MP3.com acquisition

Vivendi Universal has completed its acquisition of online music site MP3.com in a deal worth $372 million in cash and stock, according to people close to the matter.

On Monday, 68 percent of MP3.com's shareholders voted in favor of the acquisition, an MP3.com spokeswoman said. MP3.com will remain in its San Diego headquarters. Already, Vivendi Universal has picked MP3.com to power the technology behind Pressplay, its online music-subscription joint venture with Sony Music Entertainment.