Feeds

Roxio to buy Napster assets

For the record

  • alert
  • submit to reddit

High performance access to file storage

Roxio is to buy the assets of Napster, the dead P2P music-swapping firm. In other word's it's not taking on liabilities or Napster's litany of legal battles with the music major. The deal is subject to approval from the bankruptcy court and, presumably, to legal challenges from creditors and, err, lawsuitors.

Roxio is offering $5m in cash and warrants to buy 100,000 shares worth another $300k, rather less than the $8m offered by Bertelsmann a few months ago. The Delaware bankruptcy court rejected the offer, agreeing with the fierce resistance from the creditors/lawsuitors.

So what's in it for Roxio, best known for CD burning software? Well, the Easy CD creator, is, it tells us, "the Digital Media company®". And it has a "strategic vision of how Napster will expand Roxio's role in the digital media landscape and enhance our offerings to consumers".

In September, porn giant Private Media made a $2.4m stock offer for the Napster name.
Sounds like Napster as paid-for download distribution mechanism for burned CDs. But we're jumping the gun -
all will be revealed after the deal closes (expected November 27). ®

Roxio press release

Related stories

Porno firm wants Napster
Bertelsmann to pull Napster plug
Bertelsmann saves Napster - The Napster phenomenon

High performance access to file storage

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
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
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
prev story

Whitepapers

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.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.