Home » Uncategorized » Napster Sold to Best Buy for $121 Million

Napster Sold to Best Buy for $121 Million

For a lot of people, iTunes has become the be-all and end-all of digital music downloads, but there are some other major players out there as well. Best Buy has swooped into the digital download business with the acquisition of Napster, costing the company a total of $121 million.

Napster used to be cool, back when it offered you “free” downloads from “gray” sources. It quickly lost popularity after getting shut down and it didn’t exactly rise back to its former glory when it emerged as a legitimate online music store. With the marketing muscle and financial backing of Best Buy, however, Napster could once again re-emerge as a viable and competitive alternative to iTunes.

The $121 million purchase price breaks down as about $67 million in cash and investments, and then about $54 million in the actual purchase itself. I’m not sure what Best Buy plans on doing, but with that much money on the line, I’m sure it’s got a couple tricks up its sleeve.

About Michael Kwan

A freelance writer and tech geek from Vancouver. Find me at michaelkwan.com and follow me on Twitter @michaelkwan.

Check Also


Try Oculus Rift And Wii To Roam Around On The Back To The Future Hoverboard

Check out how you can fly in virtual space by using an Oculus Rift and a Wii Balance Board.


Amazon Appstore for Android Holiday Deals, Including Free Apps

There are tons of deals from the Amazon Appstore that will be offered starting now and throughout the holiday shopping season. They say that they will have "hundreds of titles that are eitehr free... or available between 50-90% off" the regular price.


Black Friday: Google Play Store Apps, Games and Content on Sale All Weekend

Case in point, if you head over to the Google Play Store right now, you'll find that Google is celebrating all Cyber Weekend with discounts on all sorts of content. This includes many popular apps and games


Black Friday Deal: Samsung Galaxy Tab 3 10.1-Inch for $100 Off

Did you manage to score any epic Black Friday deals this morning? Are you still ...


Arduino Co-Creator Releases Plans for $200 DIY Mobile Phone

Mellis was one of the people who came up with the now hugely popular Arduino platform and now he has come up with plans for people to build their own cell phone for about $200 in parts.


No Discounts for Apple Black Friday, Just Free Gift Cards

If you were hoping to save yourself some cash as you brave the Black Friday shopping crowds, you'll want to go somewhere other than the official Apple Stores.