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Best Buy to Acquire Napster 2.0 for $121 Million

By DrewWilson

The news may have been missed by some, but there is word that Napster could very likely be sold to Best Buy for $121 Million. Napster has had quite a run with the media and Napster 2.0 seemed to make the headlines on a fairly regular basis with it's supposedly revolutionary business model of a subscription service for an unlimited archive of music encoded with Digital Rights Management. Things were going well for the company back in 2005 with backing of the major record labels and an influx of subscribers willing to buy in. While the company capitalized on their gains with glamorous press releases and places in major news outlets over their successes and gains, their losses were kept rather quiet - typical for a company that relies on image to help with their business.

Full post as published by ZeroPaid on September 20, 2008 (boomark / email).