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Napster Near Death

Napster Near Death

Napster’s future is all but terminal after a federal judge blocked a $9 million sale of the online music file-sharing technology company to German media giant Bertelsmann. “As a result of the record companies’ and music publishers’ opposition, Napster’s creditors will be denied substantial repayment and the company will likely be forced into Chapter 7 liquidation,” stated Napster CEO Konrad Hilbers. The RIAA and the National Music Publishers Association opposed the sale on several grounds.