|Bertelsmann Attempting to Purchase 100% Interest in Napster|
|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.