Feeds

Porno firm wants Napster

Brand extension

  • alert
  • submit to reddit

The essential guide to IT transformation

Nasdaq-listed pornography firm Private Media Group has made a bid for Napster, extending the drawn-out demise of the music file-swapping service.

Private Media said that it had offered to acquire the Napster trademark and the Napster.com Internet address for one million shares of Private Media stock, currently valued at USD2.4 million. If accepted by Napster, the offer would be subject to approval by the court that has jurisdiction over Napster's bankruptcy proceedings.

In a statement, Private Media Group said that it planned to create a peer-to-peer (P2P) network that would promote the sharing of pornography. It would also sell pornographic material on the site.

"Along with Hollywood and the recording industry, we have become increasingly concerned about the level of copyright infringement inherent in free peer-to-peer file swapping services," said Charles Prast, president and chief executive officer of Private. "We intend to use the strength of the Napster trademark to build a community for adults to share content provided by Private and our industry partners."

Spain-based Private Media Group trades on the Nasdaq exchange and claims to have the largest library of "quality adult content" in the world, according to Prast.

The announcement comes less than two weeks after a bankruptcy-court judge blocked the company's sale to German media giant Bertelsmann AG. Judge Peter J. Walsh of US Bankruptcy Court in Wilmington, Delaware, said he could not approve the sale of Napster's assets to Bertelsmann for USD8 million, because Napster did not show that the transaction was made in good faith and at arm's length.

Bertelsmann had hoped to resurrect the Napster service with music licensed from the major record labels, including its own BMG label. Napster hoped to become profitable by offering a secure membership-based service that would have provided royalties to record companies and artists.

Bertelsmann had previously offered over USD15 million for Napster, in addition to the USD85 million in loans it provided to Napster to keep the file-swapping service in operation, while it was being pursued through the courts by music industry firms for copyright infringement. The loans provided Bertelsmann with an option to buy 52 percent of Napster.

© ENN.

5 things you didn’t know about cloud backup

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?