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Napster Execs Resign, Company Appears to Teeter

Posted by timothy on from the no-income-will-do-that dept.

renard writes: "The NYT is reporting that five top executives at Napster, including founder Shawn Fanning and CEO Konrad Hilbers, resigned yesterday. This occurs in the wake of their Board's rejection of the latest buyout offer from Bertelsmann AG - as Hilbers says, `I am convinced that not pursuing the offer is a mistake.' Could this be the end for the upstart MP3 indexing service that changed everything?"

2 of 229 comments (clear)

  1. It's funny, laugh by ObviousGuy · · Score: 1, Flamebait

    Talking about Napster is like talking about Netscape. They are both dead companies that thought the light at the end of the tunnel was daylight when it was an approaching train.

    As far as the actual content of the story, it just goes to show what incompetent boobs were running the show. Too much VC money was flowing through them to allow them to give up, I presume.

    --
    I have been pwned because my /. password was too easy to guess.
  2. Re:Shawn Fannings CV by symbolic · · Score: 1, Flamebait

    Let's not forget digging holes - the gaping hole where many might ordinarily have some sense of ethics or integrity - for example.