AfterDawn: Tech news

Roxio buys Napster's assets

Written by Petteri Pyyny (Google+) @ 15 Nov 2002 2:55 User comments (7)

Roxio buys Napster's assets 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

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7 user comments

115.11.2002 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 --

215.11.2002 11:58

Anyone else willing to pay 3 mill for a corpse?

316.11.2002 18:41

Looks to me like a good decision in the fact that every1 knows the name napster but for 3 mill, i dunno!

416.11.2002 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.

517.11.2002 0:36

Please ignore this message. [edited] Test only. -- mgb --

This message has been edited since its posting. Latest edit was made on 17 Nov 2002 @ 0:50

617.11.2002 2:16

Like your sig, Klingon.

717.11.2002 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. --

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