Feeds

Napster files for Chapter 11

Paves way for Bertelsmann

  • alert
  • submit to reddit

3 Big data security analytics techniques

N

ComputerWire: IT Industry Intelligence

apster Inc has filed for Chapter 11 bankruptcy protection in a Delaware court. The once wildly popular music sharing service operator, which has been offline for about a year, has made the move in order to restructure as a subsidiary of German media firm Bertelsmann AG.



Bertelsmann bought Napster's assets for $8m three weeks ago, bringing to an end Napster's life as an independent concern. According to Reuters, court papers show Napster has assets of $7.9m, and debts of $101m, about $91m of which is due to Bertelsmann itself.

Napster has been ostensibly trying to develop a legal, subscription-based service since early 2001, but the legal, financial and technical setbacks have been manifold. In the time since its closure last July, other peer-to-peer services, such as Gnutella and Kazaa, have emerged to replace it, and legal services such as MusicNet have been launched.

© ComputerWire. All rights reserved.

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.