“RealNetworks has announced plans to raise $100m via a convertible bond offering, sparking rumours that it is planning a major acquisition. The company, which had $300m cash at the end of March, said it would use the new proceeds for general corporate purposes as well as acquisitions,” reports Susie Harwood for netimperative.com.
Harwood reports, “It bought Listen.com in April, and has since launched its own a jointly branded version of the company’s Rhapsody music download service at the same time as Listen.com slashed its download prices. However, the bond offering suggests that its appetite for acquisitions is not yet sated, and rumours are abound that it is considering making a bid for Roxio, which owns the infamous Napster brand, continuing the recent consolidation in the download market.” Full article here.
Isn’t this interesting? The plot thickens! Just this past Monday, LoopRumors.com reported that Apple was negotiating to buy Napster-owner Roxio. Wonder which company will end up with Roxio/Napster when the dust settles?