Headlines

September 15, 2008

Best Buy picks up Napster for $121 million...

Silicon Alley Insider | Read Full Story >

Best Buy says it will keep all of Napster’s LA-based staff, including CEO Gorog, on board. (Gorog has a 6.24% stake in his company, which includes options for 1.7 million shares and about 1 million unvested restricted stock units; all of those shares should vest when the deal closes.) In theory, this means that the landscape for digital music subscription services doesn’t actually change that much: There’s Napster, RealNetworks/MTV’s Rhapsody, and Microsoft’s Zune pass offering, and none of them have made much impact despite years of effort and millions of dollars burned.


Post a comment

Previous comments include

#1 Yup yup says:

I'd guess Gorog et all were looking at this deal 2 years ago when the stockholders would have netted $10+, but Gorog being the genius that he is, decided to say no. Now the company sells for less than $3 a pop AND Gorog gets to keep his comfy seat? What a joke. It's no reason that that the music community looks upon this company as a joke and it's 'leaders' as goons.

#2 Davis Fisher says:

ewww gross


Click Here