Best Buy gets FTC approval to buy Napster

By Justin Mann on October 1, 2008, 12:02 PM
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.

Add New Comment

TechSpot Members
Login or sign up for free,
it takes about 30 seconds.
You may also...
Get complete access to the TechSpot community. Join thousands of technology enthusiasts that contribute and share knowledge in our forum. Get a private inbox, upload your own photo gallery and more.