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Roxio buys Napster's assets

15 November 2002 2:55 by Petteri "dRD" Pyyny | 7 comments

Roxio, the company behind Easy CD Creator, announced today that it will buy all Napster's assets for appx. $5.3M. Company will pay $5M in cash and appx. $350,000 in stock for Napster's assets that include Napster's domain name and trademarks.

Deal is still subject to U.S. bankruptcy court's approval which may delay the deal, but Roxio's reps said that both parties have agreed on price, so there shouldn't be any nasty surprises left. Roxio will buy all the assets, but is not assuming any of Napster's liabilities, including pending litigation.

Roxio's motivations are still slightly unclear, but the company has taken various steps towards media distribution during the last year or so. One such example is the fact that Roxio is one of the resellers of Pressplay, an online music subscription service. So, wild guess would be that Roxio will use Napster's name and domain to create a legal media distribution site based on its partners' media offerings.

Source: Reuters

Permalink to this article

Roxio sells software division (10 August 2004)

Napster adds support for more portable MP3 players (2 February 2004)

Roxio planning to buy Pressplay? (18 May 2003)

Roxio to re-launch Napster this year (25 February 2003)

Music publishers sue Bertelsmann over Napster funding (20 February 2003)

Bankruptcy court OKs Napster's sale (27 November 2002)

Napster's remaining assets to be auctioned (21 November 2002)

Judge approves a loan to Napster (23 October 2002)

Napster's sale is very close (27 September 2002)

Napster to liquidate (4 September 2002)

Bankruptcy judge blocks the sale of Napster (3 September 2002)

Roxio to prevent copying of protected CDs (15 July 2002)

Napster files for Chapter 11 (3 June 2002)

Bertelsmann acquires Napster (17 May 2002)

Napster CEO quits (14 May 2002)

Napster lays off 30 (11 April 2002)

Napster lays off 10 per cent (8 March 2002)

Pressplay launches (19 December 2001)

Virgin and Roxio partner to offer Lenny Kravitz video online (18 October 2001)

RIAA files a lawsuit against Napster (15 November 1999)

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Discuss this article!
A_Klingon (Moderator) 15 November 2002 10:39
I think it's D-A-F-T to pay 5 mil for a freeking moniker. ANY moniker. Including Napster. Boys oh boys, the guys at Roxio must have a lot of loose change burning holes in their pockets these days. Make up a catchy domain name, pay your $50 bucks, and be done with it. -- mgb -- [ + quote]
Ghostdog (Senior Member) 15 November 2002 11:58
Anyone else willing to pay 3 mill for a corpse? [ + quote]
Dela (Staff Member) 16 November 2002 18:41
Looks to me like a good decision in the fact that every1 knows the name napster but for 3 mill, i dunno! Did any info help you. If so, thank the afterdawn staff!! If this website wasnt around we would all be still roaming for answers. There is some software you can get for free that will support this site or drop a donation if possible! [ + quote]
Ghostdog (Senior Member) 16 November 2002 22:56
With a good brand and and service worth marketing you shouldn�t have to pay money for an old name. Most people relate "Napster" to file-sharing, illegal such, it will be interesting to see what Roxio uses the name for. [ + quote]
A_Klingon (Moderator) 17 November 2002 0:36
Please ignore this message. [edited] Test only. -- mgb -- Waddaya think of signature lines? Aren't they strange? You can go on and on and on and on about absolutely nothing in particular, blabbing off about this and about that and everything you say is just a waste of time, and besides, I never liked signature l [ + quote] This message has been edited since posting. Last time this message was edited on 17 November 2002 0:50
Ghostdog (Senior Member) 17 November 2002 2:16
Like your sig, Klingon. [ + quote]
A_Klingon (Moderator) 17 November 2002 2:52
<heh-heh> Ghostdog, just as an experiment (based on another lengthy sig line I saw in here), I wanted to see how long a sig line I could write (and get away with). It turns out to be four (4) lines. The actual sig which I keyed in was something like 25 lines or something. <gg> Now, I'm a "dot". (Until I delete it). Petteri, about 15 minutes ago, cured a bug that has been here at a/D for about a year now. (He's quick, I'll give him that). :) -- Klingy, the Dot. -- . [ + quote]