August 22, 2008 |
Three investors are launching a fight to be elected to the board of Napster Inc. so they can push for a sale of the West Hollywood digital music company. Their campaign platform: Current management is incompetent and busy enriching itself. The firm, which has been on the block before, should try harder to find a buyer. "Napster should be exploring all possible avenues of maximizing stockholder value," including a sale, the investors said Thursday in a letter filed with the Securities and Exchange Commission.
March 24, 2004 |
As the major record labels intensified their legal attack on online file sharing, Wal-Mart Stores Inc. on Tuesday expanded its bid to sell downloadable songs at a discount to Middle America. The nation's largest retailer officially launched its online music store with an expanded roster of artists, and kept the price at the same 88 cents per song that it offered during a three-month test.
May 13, 2003 |
Universal Music Group on Monday became the first major record label to sue Bertelsmann over its investment in Napster Inc., adding more force to a suit filed in February by songwriters and music publishers. The suit in New York federal court accuses the German media powerhouse of vicarious and contributory copyright infringement for funding the Napster system from October 2000 until its shutdown the following July.
June 3, 2005 |
A fratricidal record industry lawsuit over who bears responsibility for the mass piracy fostered by the original Napster Inc. has moved a step closer to trial. San Francisco U.S. District Judge Marilyn Hall Patel, in a mixed ruling late Wednesday, denied a motion by Napster investors -- including media conglomerate Bertelsmann -- to either throw out the case or rule that it could be held liable only for specific songs that the other record labels could prove were downloaded.
February 5, 2004 |
With software revenue drooping and marketing costs climbing, the company behind the reborn Napster online music service Wednesday reported a quarterly loss that was sharply higher than the previous year but not as deep as analysts expected. Santa Clara, Calif.-based Roxio Inc. reported a loss of $25.6 million, or 92 cents a share, on $18.8 million in revenue in its fiscal third quarter, which ended Dec. 31.
September 19, 2006 |
Napster Inc., which has struggled to find an audience despite being one of the best-known brands in online music, has hired an investment bank to explore a sale or strategic partnership. The Los Angeles company said Monday that it had hired UBS Investment Bank to assist in evaluating its options. "Our goal is to enhance shareholder value, which could potentially lead to a new strategic partnership or sale of the company," Napster Chairman and Chief Executive Chris Gorog said.
November 28, 2002 |
The brand name, Web site and technology of pioneering file-swapping service Napster Inc. were sold to Silicon Valley software firm Roxio Inc. on Wednesday after a bankruptcy judge dismissed an unorthodox last-minute objection by Napster's first boss. Record labels and other creditors will no doubt fight over the sale proceeds and may pursue legal means to collect more money, but the sale essentially ends the brief, dramatic life of Napster Inc.
February 13, 2004 |
In the music industry's most significant endorsement to date of online file sharing, independent label Artemis Records has agreed to make its albums available for purchase on Kazaa, Grokster and two other peer-to-peer networks. New York-based Artemis, home to well-known artists such as Steve Earle, the Pretenders and the late Warren Zevon, is the most notable label to license its songs to Altnet Inc., a Woodland Hills company that uses file sharing to deliver digital goods.
May 31, 2006 |
Maybe Napster had it right. Federal antitrust investigators are reexamining the online music pioneer's long-standing claims that the major record labels improperly conspired to keep authorized downloads off the Internet, said people familiar with the matter.
December 10, 2003 |
The world's largest record company is teaming up with Microsoft Corp. and other companies to try to change the way people use the Internet to buy music, movies and games. Vivendi Universal's Universal Music Group, Microsoft and the five other companies are expected to announce today that they are collaborating on technology to ensure payment to copyright holders while letting computer users share digital products, as tens of millions of people do on networks like Kazaa.