p2pnet.net News:- It would seem Napster is in trouble. Again.

Ever since Roxio took it over, re-inventing itself in an effort to cash in on the perceived value of the Napster Name, the zombified p2p file sharing application that started it all has been trying this and that to stay alive.

It went from downloads to downloans, as subscription services are more properly called, but nothing has worked, huge amounts of media hype and endless investor cash injections notwithstanding,.

Now the company has hired the UBS Investment Bank, "to help it look at strategic alternatives, which could include the sale of the company," says The Los Angeles Times.

"Our goal is to enhance shareholder value, which could potentially lead to a new strategic partnership or the sale of the company," it has Chris Gorog, Napster chief executive, saying. "But in any event our primary focus will remain on growing Napster,"

Napster cfo Nand Gangwani, "issued a statement that attempted to position Napster as a healthy company with $97 million in cash and annual sales of more than $100 million," adds the story.

The many and various members of the corporate music industry missed the boat with p2p and are now desperately trying to kick-start a viable online coporate music market.

In the meanwhile, the hundreds of millions of music lovers in the real world of online sounds continue to totally ignore the grossly over-priced industry ‘product,’ preferring to tap the free p2p networks, or the increasing numbers of competitively priced independent download services and sales sites launched by musicians themselves.

Also See:
The Los Angeles Times - Napster Hires UBS to Explore a Possible Sale, September 19, 2006

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This entry was posted on Tuesday, September 19th, 2006 at 9:13 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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