Nov 18, 2002 • 1 min read

Napster goes to CD burning company

CD-burning software firm Roxio is reportedly acquiring the Napster name and assets for around $5.3m, avoiding its financial liabilities.

Word is the Napster name and URL will be acquired by Nasdaq listed Roxio, a company who CD-burning software. They are expected to pay in the region of $5.3m (£3.6m) in cash and shares for the defunct music swapping company in a deal which will get them Napster's assets and intellectual property rights but let them avoid their financial liabilities.

Roxio's chief executive, Chris Gorog, told the BBC that buying Napster would, "enhance our offerings to consumers". Though he wouldn't comment on exactly how he intended to make use of the Napster name.

If the sale goes through it will be an end of an era in music downloading - though the battle against the unofficial file exchange sites very much continues.

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