Judge Kills Napster Sale Over Conflict of Interest

Posted by timothy on Tuesday September 3, 2002 @07:05PM from the nabster dept.

MaxVlast writes "The New York Times is reporting that 'A bankruptcy judge blocked the sale of Napster Inc. to Bertelsmann AG on Tuesday, killing a deal that might have revived the idled Internet music pioneer.' The Napster CEO used to work for Berteslsmann, and the judge suspects a conflict of interest. The CEO says that Napster will probably go from Chapter 11 to a Chapter 7 liquidation." Reader VinceK adds a link to the same AP story (with no login needed) carried at Biz Report, and more reports at the SJ Mercury News, CBS Marketwatch and InfoWorld.

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Take a look on their website by Yuioup · 2002-09-03 19:15 · Score: 4, Informative

Have a look on their website
www.napster.com
Yuioup
Re:7/11 by danny256 · 2002-09-03 19:29 · Score: 2, Informative

Kind souls? I think you mean karma whores!

...

Chapter 11
The part of the U.S. Bankruptcy Code describing how a company or creditor can file for court protection. In the case of a corporation, reorganization occurs under the existing management.

Chapter 7
The part of the U.S. Bankruptcy Code describing the liquidation of a company after bankruptcy.

... I feel so dirty......