Napster, the former Silicon Valley music sharing site, has hired investment bank UBS to help it look for a sale.
Napster, now based in Los Angeles and pursuing a legal music download site after having had an outlawed past, is making decent revenues in excess of $100 million a year.
But it is losing money, and the competition in the area is only increasing.
Tags: co:Morgan-Lewis-and-Bockius
7:59 am
VentureBeat » Video is hot — YouTube vs. Everyone else said:
[...] That deal came a few hours after entrepreneur Mark Cuban wrote an aggressive but notable piece titled “The coming dramatic decline of YouTube,” and outlined why YouTube is going to get sued and will implode just like Napster did in Web 1.0, even though Napster eventually cut deal with Bertelsman. In a bizarre coincidence, the Napster remnant company is losing money and just yesterday put itself on the block, as mentioned). The problem, Cuban said, is that you can search for songs on YouTube, and have them play, while minimizing the video screen — even those songs are copyrighted and no one is getting paid. If you read the comments on Cuban’s blog, you will see that outright confusion prevails about YouTube’s prospects. [...]
12:13 am
VentureBeat » Video is hot — YouTube vs. Soapbox and Everyone else said:
[...] That deal came a few hours after entrepreneur Mark Cuban wrote an aggressive but notable piece titled “The coming dramatic decline of YouTube,” and outlined why YouTube is going to get sued and will implode just like Napster did in Web 1.0, even though Napster eventually cut deal with Bertelsman. In a bizarre coincidence, the Napster remnant company is losing money and just yesterday put itself on the block, as mentioned). The problem, Cuban said, is that you can search for songs on YouTube, and have them play, while minimizing the video screen — even those songs are copyrighted and no one is getting paid. If you read the comments on Cuban’s blog, you will see that outright confusion prevails about YouTube’s prospects. [...]