Monday, September 15, 2008

Newsworthy: Best Buy purchases Napster for $121 Milli

Publish Post


Best Buy says it will keep all of Napster's LA-based staff, including CEO Gorog, on board. (Gorog has a 6.24% stake in his company, which includes options for 1.7 million shares and about 1 million unvested restricted stock units; all of those shares should vest when the deal closes.) In theory, this means that the landscape for digital music subscription services doesn't actually change that much: There's Napster, RealNetworks/MTV's Rhapsody, and Microsoft's Zune pass offering, and none of them have made much impact despite years of effort and millions of dollars burned.

Read the rest here
.

No comments: