Rhapsody has just announced that it plans to acquire Napster and the deal is expected to be complete as soon as the end of November. Rhapsody president Jon Irwin said that the deal will further extend Rhapsody’s lead over our competitors in the growing on-demand music market and this is a go big or go home business, so the focus is on sustainably growing the company. Rhapsody said it would release its total subscription numbers when it completes the Napster absorption and the original Napster peer-to-peer service, founded in 1999, began a decade of rampant file sharing that left the industry badly damaged…………………..
Rhapsody, the nation’s largest premium on-demand music service announced that it has signed an agreement with Napster, a unit of consumer electronics retailer Best Buy Co. Inc. Under the terms of the agreement, Rhapsody will acquire Napster subscribers and certain other assets, and Best Buy will receive a minority stake in Rhapsody. The transaction is expected to close on or around November 30, 2011. “This deal will further extend Rhapsody’s lead over our competitors in the growing on-demand music market,” said Jon Irwin, president, Rhapsody. “There’s substantial value in bringing Napster’s subscribers and robust IP portfolio to Rhapsody as we execute on our strategy to expand our business via direct acquisition of members and distribution deals.” The transaction will combine the subscriber bases of the two largest premium on-demand music services in the United States and will allow Rhapsody to further enhance its product line to deliver even more value to its members. “Rhapsody has demonstrated that it has what it takes to build a profitable business in the increasingly competitive on-demand music market,” said Chris Homeister, senior vice president and general manager of entertainment for Best Buy. “We are confident they are the right partner to provide Napster’s existing subscriber base with an immersive digital music experience moving forward.” “This is a ‘go big or go home’ business, so our focus is on sustainably growing the company,” said Irwin. “We’re excited to welcome Napster music fans to the best on-demand music experience anywhere. Our new members will have more places to connect to the music they love and to discover new favorites, guided by Rhapsody’s rockstar editorial team and the tastes of other Rhapsody members via our innovative social features.” To learn more about Rhapsody, please visit www.rhapsody.com/plans.
Buy Cheapest Related Product From Amazon.com
Related News:
Recent Tech News
While RIM may be deemed the company that launched the true smartphone revolution with its BlackBerry devices and coined the very concept, Apple will always be termed as the company which popularized the notion of smartphones. And its not surprising to note now that iOS and Android smartphones dominate the total shipments of the smartphones made during the last quarter of 2012.
Facebook has become increasingly important for the brands to stay relevant and important on the social media. Facebook pages are a central hub for most brands to connect with their millions of fans and the social network keeps adding newer features to make this more easy and convenient. Now, Facebook has added yet another feature to pages.
Smile is a great way to express pleasure or joy at something or someone. But more often than not, it has to be forced and is fake. While that may work for a lot of people perfectly well, things are about to change. A new technology from MIT can now detect if your smile is true or fake, thus busting you right on spot for pulling that false grin.
Google has working hard to improve its Google Play platform, so as to pitch it effectively enough against Apple’s popular App Store. While Google Play still has a lot of catching up to do, the good thing is that Google is regularly adding newer and better features to its platform. Now, for instance, Google has added the option of in-app subscriptions for Google Play.
