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Jun 25 2002

More Trouble with Napster Sale

  • Written by wiggum
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Bertelsmann have given another $5.1 million loan to Napster to see it through. But the loan may not be enough as there have been further delays to its bankruptcy hearing. The Judge in the case said that he would require at least 60 days before a sale hearing can take place. Representatives for Bertelsmann said they couldn’t agree to the lengthened sale process and Napster requested a recess to negotiate the matter with the prospective purchaser. The never-ending saga of Napster burning money and delaying a launch continues. Read the full story here

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