aol-logo-9AOL has sold Winamp and Shoutcast, two music sites that are on their last legs, for between $5 and $10 million. Consider that one reason why we’re not executives. We’d never imagine that someone would be willing to pay that much for dead in the water sites.

Radionomy, a digital music company, has purchased both sites. As part of the deal, AOL is taking a 12 percent stake in Radionomy. Techcrunch reports that the buy is about expanding Radionomy’s reach:

In both cases, this will be a volume play for Radionomy. Among its other assets is the TargetSpot audio ad network, and the plan will be to use both Shoutcast and Winamp to increase TargetSpot’s inventory, and as everyone knows advertising is a game of scale.