by Mike Masnick
Mon, Sep 15th 2008 11:53am
Napster, which now has almost nothing other than its brand to connect it to the revolutionary music sharing service Shawn Fanning launched nearly a decade ago, is about to undergo its latest shift, as Best Buy has bought what remains of Napster for $127 million, representing a hefty premium on the already pretty weak valuation of the company. Ever since Roxio bought Napster -- and renamed itself Napster -- the company has tried to position its music subscription offering as a huge success, but there's been little evidence to back that up. Now selling off to Best Buy for such a low price pretty much confirms that there wasn't much there.
If you liked this post, you may also be interested in...
- Dish Eyes T-Mobile Takeover, And That Could Be A Very Good Thing For Wireless Competition
- AT&T Might Agree To Adhere To Neutrality Rules To Seal Its $49 Billion DirecTV Purchase, But Probably Not
- As Merger Mania Rises, Cable And Broadband Customer Satisfaction Worse Than Ever
- DailyDirt: Advertising Needs To Be More Considerate
- VCs Successfully Fund Lawsuit Against Best Buy After It Completely Screws Over Startup