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Best Buy Purchases Napster
If you flashed back to 2000 it would be hard to imagine Shawn Fanning, backward-baseball-cap wearing and hunched over his computer in a darkened dorm room selling Napster in a $127 million dollar deal to electronics superstore, Best Buy. Just the same, that’s the deal that went down today, adding yet another footnote to the history of the music industry.
Best Buy has been attempting to expand their current services with the Best Buy Music Store (using Rhapsody) and Napster has been slowly dying off against the competition offered by Apple and iTunes so this may be a perfect fit for both sides of the deal. The electronics company is currently selling mobile handsets which may be a large reason for the acquisition of such a notable MP3 download service.
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