Napster CEO quits as sale rejected

From News.com: “Napster Chief Executive Konrad Hilbers is stepping down, capping months of unsuccessful negotiations to sell the file-swapping company and settle lawsuits hanging over its business.
The company may also be close to filing for bankruptcy, according to at least one source close to Napster. In an e-mail to the company Tuesday, Hilbers confirmed that a last-ditch attempt to sell the company outright to German media giant Bertelsmann had fallen through after opposition from Napster’s quarrelling board of directors.”
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