Monday, September 15, 2008

Napster Gets Sold To Best Buy For $121 million

Best Buy has acquired Napster for almost twice it's current share price, no doubt Best Buy was sick of losing more and more CD sales and decided to join the digital music revolution. Of course we all know this isn't really Napster, it's just the brand slapped on a music store built by Roxio, unfortunately this means it's not iTunes and hasn't been a huge player in the market.

(we all know that the real Napster lives on through imeem)

Meanwhile myspace music is all talk about its 'new' features, all of which we've seen elsewhere. It's kind of a shame because there are great companies out there who are going to find themselves competing with the behemoth that is myspace. For the sake of good music I hope that the problems with EMI and indie artists hobble the site sufficiently that it doesn't wipe out the competition.

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