May 8, 2001 |
Chalk one up for the "old economy": Standard & Poor's said Monday it will add Pepsi Bottling Group (PBG) to the blue-chip S&P 500 index and drop Adaptec Inc. (ADPT). Pepsi Bottling, the largest bottler of PepsiCo Inc. drinks, will join the index May 11. Tech firm Adaptec, which is spinning off its software unit Roxio Inc., will be transferred to the S&P SmallCap 600 index. The news was announced after the close of trading. Pepsi Bottling shares rose 98 cents to $41.
August 24, 2004 |
RealNetworks Inc. said Monday that it would begin offering a steep discount on its digital music subscription service to some university students in an effort to stem illegal downloads and attract long-term customers. The Seattle company said it had struck deals with UC Berkeley and the University of Minnesota system to offer its standard Rhapsody service to students for $2 to $3 a month. The service is normally $9.95 a month.
June 26, 2002 |
Roxio Inc., whose software is used for home burning of CDs, slashed its quarterly earnings forecast by more than 80% and cut its revenue outlook, citing weak retail sales, particularly in Europe. Shares of Santa Clara, Calif.-based Roxio fell to $8 in after-hours trading after closing down 2.4% at $14.95 on Nasdaq. Roxio said it expects to report revenue for its fiscal first quarter of $31 million and earnings per share, excluding noncash charges, of 2 cents. Including charges it expects to report a per-share loss of 15 cents.
October 9, 2004 |
Movie studios and record labels asked the U.S. Supreme Court on Friday to overturn a ruling that peer-to-peer networks cannot be held liable when their users copy music and movies without permission. Dozens of entertainment industry companies asked the court to reverse an appeals court decision that has prevented them from shutting down networks such as Grokster and Morpheus that they say encourage millions of computer users to copy music and movies free rather than buy them.
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.
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.
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.
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.