As we reported back in November AOL, which bought the software's previous owner Nullsoft in June 1999 for US$80 million in stock, was set to shut down Winamp in December, without stating a reason.
But the new deal, announced today, means radio software firm Radionomy has acquired Winamp and Shoutcast from AOL for a "cash and share deal" worth between $5 and $10 million, and will keep the software running.
The sale will give AOL a 12 percent stake in Radionomy, an online media platform that currently offers more than 6000 amateur and professional internet radio stations. The addition of Shoutcast to its lineup will push that number to around 60,000, representing roughly half the internet radio stations currently in operation.
Winamp is still downloaded three million times per month, and Radionomy CEO Alexandre Saboundjian told TechCrunch that the plan is to maintain both Winamp and Shoutcast as going concerns.
"We want to rebuild the story for Winamp," he told the tech news website.
"We think the future can be great because the strategy is not just desktop but mobile and cars and so much more."
The Winamp website still carries a message warning of its December demise and the paid version of the software isn't available at the time of writing, but it's expected these issues will be rectified shortly.