‘$25m’ Napster assets available
The assets from the bankrupt file-discussing system Napster are up for auction for $25million.
Media firms, music retailers, music business and vc’s are some of the potential purchasers.
The deadline for bids is August 21, using the auction looking for August 27.
German posting giant Bertelsmann is keen to purchase the assets. The organization is among Napster’s creditors, lending the ill-fated service greater than $85million.
The $85million loan would form a part of Bertelsmann’s bid that it’s ready to top-up with a further $9million.
However, if the personal bankruptcy judge decides to overlook the loan, other bidders might get charge of Napster for around $25m.
In the hey-day Napster would be a popular file-swapping site among music fans.
The service grew to become a target for law suit from music business and music artists who accused it of music piracy.