Monday, 5 December 2011

Napster sold again

Napster, the peer to peer online music service was sold to Rhapsody for an undetermined amount. Napster was resurrected in 2003 when Roxio inc bought it for 5 million in bankruptcy court. It was then sold to Best Buy for 121 million in 2008 and now finally sold to rhapsody. The move will shut down Napster and incorporate it into Rhapsody.

Rhapsody's main competition is Spotify and this move should help Rhapsody compete in the market. It's interesting to note that Shawn Parker, a member of the board of Spotify now competes against a rival company Rhapsody.

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