Tuesday, October 4, 2011
NAPSTER SOLD TO RHAPSODY
Rhapsody, one of the oldest Web subscription music services, has made it official. The company has acquired Napster subscribers and other assets from Best Buy, while the electronics retailer will obtain a minority stake in Rhapsody, the companies said today. the acquisition is expected to close on November 30, the companies said in a press release. Best Buy appears to be unloading a music service that struggled prior to being acquired by the merchant and seemed only to have disappear after.
The financial terms of the deal were not fully disclosed.
Posted by Teh Gay Geek at 8:00 AM