Roxio Aquires PressPlay, Plans To Relaunch Napster

I think Apple’s got the market cornered, bub
Source: The Hollywood Reporter

Roxio rings up pressplay buy

Roxio on Monday finalized its acquisition of music subscription service pressplay for $39.5 million, as predicted (HR 5/19). The deal gives Roxio a huge shortcut to its promised relaunch of the Napster brand as a legal music service. Pressplay is a joint venture between Universal Music Group and Sony Music Entertainment, both of which retain a minority interest. UMG and SME will each provide a representative to Roxio’s board of directors. Pressplay president Mike Bebel will assume the title of president and chief operating officer of Napster and will report to Roxio chairman and CEO Chris Gorog. Neither party foresees any other changes in staffing or location, and both spoke highly of each other’s team and technology. The two companies have worked together since pressplay’s 2001 launch because Roxio provides the CD-burning technology for the music service. Roxio now has pressplay’s legal digital music distribution infrastructure and catalog rights.

Link: Roxio Aquires PressPlay, Plans To Relaunch Napster

Posted in:

Related Articles:

iTunes To Napster: Neener Neener

Microsoft Planning Music Service

KaZaa: 230 Million Downloads And Counting