tag:blogger.com,1999:blog-8927785.post1771275111116729500..comments2023-09-17T04:20:48.417-07:00Comments on Jaye Albright's Breakfast Blog: With I-Tunes, There Is No BagAlbright and O'Malleyhttp://www.blogger.com/profile/13933457732458275539noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8927785.post-31307896425174948182008-02-29T01:17:00.000-08:002008-02-29T01:17:00.000-08:00In your post about iTunes (and thanks for the Tenn...In your post about iTunes (and thanks for the Tennessean article link!), you wrote:<BR/><BR/> "...comes as small comfort to SonyBMG which has owned Napster for years now...<BR/><BR/>I’ve been under the impression that Bertelsmann wasn't part of Napster's ownership anymore...<BR/><BR/>So...in searching, I found this (it picks up the story after Bertelsmann's initial investment in Napster had died in bankruptcy court):<BR/><BR/> "...Bertelsmann offered to acquire the Napster assets for $8 million as part of a bankruptcy proceeding. In June 2002 Napster filed for Chapter 11 bankruptcy protection. But Bertelsmann's attempt to position itself as Napster's largest creditor, and thus have the inside track to acquiring Napster's assets, failed because its infusion of cash was not considered a loan but, rather, a backdoor attempt to gain an equity stake in Napster, an arrangement that was intended to shield Bertelsmann from any liabilities Napster incurred in its litigation with the music industry.<BR/><BR/> In November 2002, Roxio Inc., maker of CD-creation and digital-media software, emerged the winner in bankruptcy court, paying $5 million for the Napster name and its intellectual property."<BR/><BR/>From: http://www.answers.com/topic/napster-inc?cat=biz-fin<BR/><BR/>Then...it looks like the Roxio--Napster combo sold to Sonic, which then changed its company name to...Napster:<BR/><BR/>http://investor.napster.com/releasedetail.cfm?ReleaseID=150826<BR/><BR/>So, to my read...there's no Bertelsmann ownership any more in Napster.<BR/><BR/>Just FYI, Tony T.Anonymousnoreply@blogger.com