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OH NO: Former iHeartmedia (formerly Clear Channel) Exec Gets Funding for huge ONLINE Radio Station Venture, Effort to pull listeners away from commercial radio!!!

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Goom Radio secures $16 million. Former iHeartmedia (formerly Clear ) and execs seek , Ëœreinvent radio for the Internet generationâ„¢

In the midst of record labels cracking down on Online music piracy, (like last weekâ„¢s announcement of Seeqpod filing for Chapter 11 bankruptcy while facing lawsuits with Warner and EMI), a new company is once again trying to change the way users consume music on the Web. Goom Radio, an online radio company based out of New York, has secured $16 million Series A funding from Wellington Partners Venture Capital, Elaia Partners and Partech International.

The company seeks to, Ëœreinvent radio for the Internet generation,â„¢ by providing its users a free platform in which they can create their own radio stations, similar to Online radio pioneers Last.fm and Pand ora. The company will be ad supported. Goom Radio has been up and running in France since the Fall of 2008. Here in the US, it launched in March of 2009. Currently, users who want to give it a try can sign up for a private beta and wait until they have something to play with. As for here in the States, Goom Radio will be led by Rob Williams, former president and market manager for New York, and Joe Anastasi, who comes from Google Audio. The company has also hired a team of DJâ„¢s and reporters to produce original content for Goom Radio. It is currently operating out of the Z100 studios in Jersey City.

And with this large $16 million Series A round, Goom Radio plans on, actually launch its offering, hiring a dedicated sales team and building out infrastructure.