BestBuy buys Naspter for $121 Million. I think it’s a good buy for BestBuy since they can do some kind of double-promotion through their retail store while Napster.com still has a lot of following.
Announced this morning, the retail giant has agreed to buy Napster Inc. for a staggering $121 million, $67 million of which will be cold, hard cash. The deal is set to close in Q4 of this year, and it will include Napster’s “700,000 digital entertainment subscribers, web-based customer-service platform and mobile capabilities.” According to Best Buy president Brian Dunn, it intends to use “Napster’s capabilities and digital subscriber base to reach new customers with an enhanced experience for exploring and selecting music and other digital entertainment products over an increasing array of devices.”
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