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Best Buy Coughs Up $54 Million For Napster

Posted by ScuttleMonkey on from the so-i-heard-you-got-robbed dept.

MarketWatch reports that Best Buy has decided to toss $54 million into an acquisition of Napster. All told, the deal amounts to around $121 million, with about $67 million headed towards getting cash and short-term investments from Napster's balance sheet. "The deal will give Best Buy an online digital music retail outlet as well as a subscription streaming service that has about 700,000 subscribers. That could help Best Buy to compete against retail giant Wal-Mart, which has its own online digital music offering."

2 of 164 comments (clear)

  1. This is interesting by nauseum_dot · · Score: 5, Interesting

    I think this could eventually give Best Buy some leverage in selling electronics because they will package downloads with the sale of mp3 players. I think they may be putting together enough clout to give Apple a good scare.

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    Crap! I just kissed my karma good-bye.
  2. Re:Can anyone explain... by garcia · · Score: 4, Interesting

    but the Napster brand is, at least last I knew, pretty much useless as a brand. If I am wrong, someone please correct me.

    Well, give them a chance, maybe they'll start giving out free music again, just like Napster was when the brand actually meant something more than stocks and dollars changing hands.