Napster Sale to Bertelsmann Blocked by U.S. Court
A U.S. court hammered the final nail in the coffin of maverick music service Napster on Tuesday when it blocked a bid by German media group Bertelsmann AG to buy the one-time cult and now defunct Web site. Killing off a deal to revive the bankrupt service that millions of fans used to swap music over the Internet, a U.S. bankruptcy court rejected Napster’s sale to Bertelsmann after record labels and songwriters opposed the deal, saying the offer price was not fair. Faced with no financing, no revenues and no other buyers, Napster said it would most likely be forced… Read more »
