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Best Buy gets FTC approval to buy Napster
A few weeks ago it was announced that retail chain Best Buy was entering the digital music market with a $121 million purchase of Napster. Napster has been struggling for quite some time, and Best Buy believed they could not only bail Napster out of its financial troubles but recover the company and compete with the likes of Apple and Amazon.
The amount of cash they offered for the company was substantial, and their only real hurdle in getting this accomplished was the FTC. After a relatively short investigation, the FTC has given approval of the deal as of today. Now it'll only be a matter of time before Napster becomes retail-chain owned.
Somehow I don't see how this will make the service any more appealing than it is now, or what advantage it would give them over other online music services. Best Buy must be awfully confident.
The amount of cash they offered for the company was substantial, and their only real hurdle in getting this accomplished was the FTC. After a relatively short investigation, the FTC has given approval of the deal as of today. Now it'll only be a matter of time before Napster becomes retail-chain owned.
Somehow I don't see how this will make the service any more appealing than it is now, or what advantage it would give them over other online music services. Best Buy must be awfully confident.
