Launch Media’s Wireless Service

Launch Media Inc., the Santa Monica-based owner of the Launch.com Internet music site, agreed to develop a way to broadcast music to wireless devices such as cell phones that run on a Qualcomm Inc. standard. The agreement could let Launch reach a broader audience with its Launchcast service, which tracks the music that users access from Launch’s library and develops a radio-like broadcast customized to each users’ taste. Launch will develop the broadcast service to be compatible with San Diego-based Qualcomm’s Binary Runtime Environment for Wireless technology. Shares of Launch Media rose 56 cents, or 41%, in heavy Nasdaq trading to close at $1.94. Qualcomm shares fell $1.88 to close at $84.75, also on Nasdaq.