09-15-2008
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Best Buy Coughs Up $54 Million for Napster
MarketWatch reports that Best Buy has decided to toss $54 million into an acquisition of Napster. All told the deal amounts to around $121 million, with about $67 million headed towards getting cash and short-term investments from Napster's balance sheet. "The deal will give Best Buy an online digital music retail outlet as well as a subscription streaming service that has about 700,000 subscribers. That could help Best Buy to compete against retail giant Wal-Mart, which has its own online digital music offering." http://slashdot.org/slashdot-it.pl?f.../09/15/1544256
Read more of this story at Slashdot.
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