Wednesday, October 07, 2015
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Samsung 3Q Operating Profit Surges
Twitter 'Moments'To Highlight Best Tweets
Hololens, New Lumia Smartphones, Band, Surface Pro 4 and Surface Book Shined At Microsoft's Windows 10 Devices Event
Sharp Showcases Ultra HD Blu-ray Recorder, 8K TV at CEATEC 2015
EU Court Says EU-US Data Transfer Pact Is Invalid
New Roku 4 Streaming Player Supports 4K Resolution
Sharp Showcases RoboHon Mobile Robot At Ceatec
Skyworks to Buy PMC-Sierra for $2 Billion in Cash
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > General Computing > Best Bu...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, September 16, 2008
Best Buy to Buy Napster For $121 million

Best Buy Co Inc plans to buy digital music service Napster Inc for $121 million in cash in an effort to compete with Apple's dominant iTunes service and its iPod music players.

Best Buy, one of the largest retailers of CDs, and Napster, once the best known name in digital music, both offer digital subscription services, but neither have mounted much of a challenge to Apple, which holds more than 70 percent of the U.S. digital music market.

Napster and Best Buy are betting they have a better chance by combining rather than competing with each other.

Best Buy said on Monday it would pay $2.65 per Napster share, nearly double its closing price on Friday. Napster shares jumped 87 percent in early trading to $2.54.

In 2006, Best Buy teamed up in with RealNetworks and SanDisk to create a digital music subscription service and compatible media player.

Best Buy plans to use Napster to reach new customers over an array of devices. The proposed acquisition includes Napster's approximately 700,000 subscribers, its Web-based customer service and mobile capabilities.

"This transaction offers Best Buy a recognized platform for enhancing our capabilities in the digital media space and building new, recurring relationships with customers," said Brian Dunn, President and COO of Best Buy. "Over time we hope to strengthen our offerings to consumers, who we believe will increasingly seek devices and solutions that enable them to access their content wherever, whenever and however they want."

Best Buy is moving into categories that are outside traditional consumer electronics as it looks to double annual sales to $80 billion over the next five years. It is also boosting its wireless offerings since completing the introduction of Best Buy Mobile shops at its U.S. stores.

Best Buy expects Napster and its 140 employees to remain at its current Los Angeles headquarters .

Super Hi-Vision Technology to Reach Comsumers in 2020        All News        JVC to support Sony's XDCAM EX Professional Video File Format
Sandisk Rejects $5.85 Billion Buyout Offer From Samsung, Samsung Insists     General Computing News      DECE Consortium Formed To Standardize Digital Content

Get RSS feed Easy Print E-Mail this Message

Related News
Rhapsody and Napster Wind Down Partnership With Echo Nest
Samsung Refutes Rumored Best Buy Acquisition Plans
Samsung and Best Buy Begin Rollout of Samsung Experience Shops
Best Buy Testing Disc to UltraViolet Digital 'Conversion' Tool
Retailers To Launch Mobile App For Payments
Best Buy Launches Movie Download Service
Best Buy Partners with Google to Co-Market Google Mobile App
Best Buy Brings On-Demand Entertainment to Its Customers
Napster Launches MP3 Store
Napster to Offer 100% DRM-Free MP3 Downloads
AT&T to Offer Napster on Samsung SLM
Napster, AT&T in Wireless Music Tie-up

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .