Napster nears bankruptcy filing as Fanning quits
By Paul Abrahams in San Francisco and Bertrand Benoit in Frankfurt
Published: May 14 2002 22:14 | Last Updated: May 15 2002 07:16
Financial Times.com News
By Paul Abrahams in San Francisco and Bertrand Benoit in Frankfurt
Published: May 14 2002 22:14 | Last Updated: May 15 2002 07:16
Financial Times.com News
Napster is considering filing for Chapter 7 bankruptcy (Chapter 7 involves complete liquidation.)
The company, whose operations were halted last year after a federal court stopped it from offering copyrighted music for free over the internet, is also losing Konrad Hilbers, its chief executive, Shawn Fanning, the founder and chief technology officer, and four other vice-presidents.