Roxio, till
recently mainly known for their recording software, is currently
making name in the music world, after buying the Napster name and technology.
Current rumors are that the company will buy PressPlay, one of the current legal
music downloading services and rename it to Napster.
 The deal, which would bring one of the two online
music services backed by the major record labels under the control of the
company that bought what remained of Napster at bankruptcy auction last
year, could be announced as early as Monday, the sources said.
Representatives of Universal, Sony and Roxio were not immediately
available for comment. The initial value of Roxio's offer for Pressplay
was about $30 million, in cash and stock, a source familiar with the
situation said.
Roxio, which makes software for recording music on CDs, has said it was
planning to launch a new Napster-branded online music service this year
and has hired Napster's founder Shawn Fanning as a consultant. The company
bought the rights to Napster's name and technology for just over $5
million in November last
year. |
Source: Reuters.com
