Google decided to exit the broadcast radio business and focus our efforts in online streaming audio.
In 2006, the company launched Google Audio Ads and Google Radio Automation to create a new revenue stream for broadcast radio, produce more relevant advertising for listeners and streamline the buying and selling of radio ads.
"While we've devoted substantial resources to developing these products and learned a lot along the way, we haven't had the impact we hoped for," wrote Susan Wojcicki, VP, Product Management at Google's blog.
Google said that it would phase out the existing Google Audio Ads and AdSense for Audio products and that it would sell the Google Radio Automation business, the software that automates broadcast radio programming.
Advertisers will continue to be able to use Google Audio Ads until May 31 and broadcasters will be able to publish inventory to Google until that date as well.
Instead, Google will use their technology to develop Internet-based solutions that will deliver relevant ads for online streaming audio. In addition, Google said that ot would continue to invest in their growing TV advertising business.