Roxio wants Napster
Music Industry News - as it happens
Source: p2pnet.net - November 15, 2002
Roxio - which makes, among other things, Easy CD Creator - is the latest
company to cast a covetous eye on Napster-that-was.
Roxio Inc entered into a definitive agreement to acquire, "substantially all
of the assets of Napster, Inc," it says on its web page here.
As part of the transaction, Roxio will receive all of Napster's intellectual
property including its technology patent portfolio, although it's, "not
assuming any of Napster's liabilities, including pending litigation."
The company also says its purchase of Napster's assets is subject to
approval of the bankruptcy court.
"Following the close of the transaction [expected on November 27], we will
provide consumers and investors a strategic vision of how Napster will
expand Roxio's role in the digital media landscape and enhance our offerings
to consumers," adds Roxio.
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