Rhapsody Agrees to Acquire Napster
Rhapsody today announced that it has agreed to acquire Napster for an undisclosed sum. Under the terms of the agreement, Rhapsody will acquire all of Napster's subscribers and other assets. Best Buy, current owner of Napster, will gain a small stake in Rhapsody. The companies didn't immediately announce plans specific to their mobile strategies, but Rhapsody has been a long-time partner of Verizon Wireless, and comes bundled on select Verizon handsets. Rhapsody also makes software for Android, BlackBerry, iOS, and Windows Phone devices.
Oh how the mighty Napster has fallen!