Roxio snapping up Napster assets
The deal, expected to close later this month, is subject to the approval of the bankruptcy court handling Napster's case.
Roxio said it will receive all of Napster's intellectual property, including its technology patent portfolio, but will not assume any of Napster's liabilities, including pending litigation.
The company said it will offer details about how it will use Napster's technology to "expand Roxio's role in the digital media landscape" after the deal closes.
Roxio has been making inroads into online music. It recently signed a distribution deal with EMI Group, allowing it to let customers make permanent downloads of songs, transfer songs to portable devices such as MP3 players and burn CDs with songs downloaded from the services.
Napster in some ways revolutionized the way many people get music. But while its technology was wildly popular, it never came up with a profitable business model. Besieged by lawsuits from the music industry, the company filed for bankruptcy in June. German media conglomerate Bertelsmann had tried to buy the company, but that deal was blocked by a federal judge. Napster's assets subsequently drew many interested buyers, including a porn company.
Roxio will pay $5 million in cash and 100,000 warrants in Roxio stock for the assets. Roxio closed Thursday at $3.38 on Nasdaq.
ok... this is off topic, but it needs to be said.
the first news article i read by you today(about 5 min ago) really didnt bother me. thats not to say that i read it tho. then, i come across another. i felt like saying somthing, but i am in a good mood today. then, i came across this one. 3 news stories all posted within a relitively short time. this really wouldnt bother me, exept for the fact that they are NEWS! and to top it off, your just cutting and pasting. atleast have the decency to shorten it, or simplify it, as a very select few will actually read thru the whole damn thing.
you may now return to your regularly scheduled program.
What assets?!?!?!
May you always run with the wind at your back and good friends by your side.
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Originally posted by wonderboy2005
you may now return to your regularly scheduled program.
click.......sssshhhhhhhhhhhhhhhhhhhh *turns tv off*
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Originally posted by Crazy Horse
What assets?!?!?!
The ones with a negative value i believe.....
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Since its inception almost 30 years ago, the internet has been transformed from a primitive device for sharing thoughts and ideas, into a massive network where people pay to connect and read advertisements they don't want, while calling each other "asshats".
All the goodies but none of the bad stuff! LOLRoxio said it will receive all of Napster's intellectual property, including its technology patent portfolio, but will not assume any of Napster's liabilities, including pending litigation.
BTW, what the hell does Roxio have to do with p2p apps like Napster? I'm really interested in what thier planning and how this unfolds.
well no one is making you read it. your not forced to. just ignore it then. i'm not making anyone read it, i guess its for the "few" who want to read it. and i'm not sure what you mean when you say "this really wouldnt bother me, exept for the fact that they are NEWS! " anyways sorry if your bothered by it, so just ignore it.Originally posted by wonderboy2005
ok... this is off topic, but it needs to be said.
the first news article i read by you today(about 5 min ago) really didnt bother me. thats not to say that i read it tho. then, i come across another. i felt like saying somthing, but i am in a good mood today. then, i came across this one. 3 news stories all posted within a relitively short time. and to top it off, your just cutting and pasting. atleast have the decency to shorten it, or simplify it, as a very select few will actually read thru the whole damn thing.
you may now return to your regularly scheduled program.
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