Let me get that right: Napster, the once illegal, then "sued-to-death" and thus bankrupt comany, who's remainders were later bought by Roxio, just hired UBS as a financial advisor. According to Chris Gorog, CEO of Napster, the bank shall advise Napster on possible "strategic alternatives" - including a potential sale. The range of opportunities covers partnerships as well as takeovers.
Hello? Quite surprising to hear that a company like Napster, reporting quaterly before tax losses of $9.6m at a revenue of quarterly $28.1m, tries to sell itself off. Isn't it?
Maybe not! If you consider that the heat is going up in the online music market with Microsoft launching Zune and Nokia accquiring LoudEye. Most likely Apple's iTunes will get some heavy competition soon. Maybe we will see a takeover battle just for the sake of access to customers.
See the story here.
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