Napster Dies a Quiet Death
A U.S. Bankruptcy Court has rejected the bid from German media group, Bertelsmann, to purchase Napster. Napster subsequently issued a statement that it had terminated its staff and closed down its operations. With a copyright infringement case from the record labels still pending, Napster will likely file Chapter 7 liquidation proceedings. Upon the Chapter 7 filing, a trustee will be appointed to auction off Napster's remaining assets, including its proprietary technologies, world-renowned brand name, and its Web addresses. The Napster Web site is only a shadow of its former self: one page reads "Napster - Work In Progress". It would appear as at least for the moment, you can still continue to order Napster T-Shirts, but one has to wonder if this is a good idea given the situation.
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