Rhapsody Acquiring Napster As Competition From Spotify Heats Up

Rhapsody Acquiring Napster As Competition From Spotify Heats Up

Napster has had about as many owners as Jennifer Lopez has had husbands, and by word of an official press release, the file-sharing program that forever shook the music industry over a decade ago, has added another tally to that list.

In an intriguing development, Rhapsody has acquired the rights to Napster from Best Buy, seemingly to rain on the parade of trendy music-sharing newcomer and Facebook ally Spotify, which, in an ironic twist, boasts Napster founder Sean Parker as a major investor (he's a multi-billionaire, by the way, if you missed the latest Forbes). 

The business specifics are scarce as of yet, but Best Buy will retain a minority share of the company, and Rhapsody will be granted Napster's subscribers and additional information.

Meanwhile, the founders of Bearshare, Limewire and Kazaa share a simultaneous collective sigh.

[via Business Insider]

Tags: napster, spotify, rhapsody, best-buy, sean-parker, facebook
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