av news
This Month's Featured Equipment Reviews
Denon AVR-X3100W Home Theater Receiver Review
Tisbury Audio Mini Passive Review
Denon AVR-S700W& Envaya Bluetooth Speaker Reviews
CLONES Audio 25p Power Amplifier Review
Audioengine A2+ Desktop Speakers Review
Latest AV News
Music Software Forum Topics:
 
Bertelsmann Attempting to Purchase 100% Interest in Napster  Print E-mail
Home Theater News Music - Download Technology News
Written by AVRev.com   
Tuesday, 16 April 2002

German media giant Bertelsmann partnered with Napster in October 2000 during the turbulent period when Napster was facing a legal battle with the Recording Industry Association of America (RIAA). According to German newspaper Die Welt, Bertelsmann Chief Executive Officer Thomas Middelhoff recently confirmed his company's intentions of buying out Napster completely from original investors John Fanning, uncle of Napster founder Shawn Fanning, and venture capitalist Hummer Winblad Venture Partners.

"Our solution is to take over Napster completely. We want to buy out the original shareholders. We have made them an offer, because we believe that our strategy is the right one for the future of the company." said Middlehoff in his interview with Die Welt.

Bertelsmann has spent an estimated 85 million dollars so far in long-term loans to the to the now off-line music downloading service. Reports are that Bertlesmann is offering 30 million dollars to buy all of Napster and will then use the brand name Napster, the somewhat stale but loyal Napster user-base and the Napster servers to set up a paid online music subscription service using content provided by artists on Bertlesmann’s various record labels including Arista, RCA and BMG.








Like this article? Bookmark and share with any of the sites below.
Digg!Reddit!Del.icio.us!Google!StumbleUpon!Yahoo!Free social bookmarking plugins and extensions for Joomla! websites!
 

  home theater news  |  equipment reviews 
  blu-ray reviews  |  dvd  |  theatrical reviews  
  music download reviews  |  music disc reviews
  contact  |  about-us  |  careers   |  brands 
  Subscribe to Us   |   RSS   |  AVRev Forums
  front page  |  virtual tours  |  dealer locator
  how to features  |   lifestyle & design articles
  Want Your Home Theater Featured on MHT?
   CE Partners: HDD  |  HDF  |  VGT  |  SD  |  DVD
   
  Advertise with Us | Specs | Disclaimer
  Sponsors | privacy policy | terms of use
  909 N. Sepulveda Blvd. El Segundo, CA 90245
  Ads: 310.280.4476 | Contact Us
  Content: 310.280.4575 | Mike Flacy