Google: no interest in Napster, no plans to develop music store at this time

“Napster Inc. shares ballooned as much as 50% Tuesday after a report said Google Inc. might buy the online music service pioneer, but the stock gave back more than half its gains after Google denied takeover interest,” Jeffry Bartash and Scott Banerjee report for MarketWatch. “A Google spokesperson, in an emailed response to MarketWatch, said the company has “no plans to acquire Napster, nor do we have plans to develop a music store at this time.”

“‘For a company to acquire Napster at this point doesn’t make that much sense,’ said analyst PJ McNealy of American Technology Research, who covers Napster. ‘Napster’s business model is still unproven and in a ‘show me’ mode.’ Recently, the Los Angeles-based company cut about 10 middle managers from its payroll. Napster said that the ‘management redundancies’ were attributable to a consolidation of an online music subscription service and music sales effort,” Bartash and Banerjee report. “Before the layoffs, Web site Digital Music News reported that the company is also ‘considering various exit options, including a fire sale or liquidation.'”

Full article here.

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Related article:
Google considering Napster acquisition – January 31, 2006
Analyst: Google may be close to developing Apple iTunes competitor – January 27, 2006
Napster does the math: layoffs commence with 10-percent of workforce lopped off – January 25, 2006
EMI Music Chairman: Music subscription services like Napster and Rhapsody haven’t beeen huge – January 23, 2006
Napster CEO Gorog: ‘we are extremely excited about the future’ – January 18, 2006
Report: Napster executives do the math, consider selling or shutting down, layoffs imminent – January 16, 2006
Google partners with Apple iTunes Music Store (and others) for new Google Music search – December 15, 2005
Napster CEO Gorog: Apple iPod is a ‘villain’ – December 12, 2005
More blood on Apple iPod’s Click Wheel: Thomson gives up on MP3 player, CE markets – December 12, 2005
More blood on Apple iPod’s Click Wheel: BenQ withdraws from MP3 player markets – November 28, 2005
More blood on Apple iPod’s Click Wheel: Olympus halts production of portable digital music players – November 09, 2005
Do the math: Napster posts $13.6 million second-quarter loss – November 02, 2005
More blood on Apple iPod’s Click Wheel: Rio is dead – August 26, 2005
Napster President: Apple CEO Steve Jobs has ‘tricked people into buying a hardware trap’ – August 22, 2005
Apple’s roadkill whine in unison: ‘incompatibility is slowing growth of digital music’ – August 12, 2005
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Napster, other Windows Media-based music services ‘chasing a niche opportunity’ – June 29, 2005
SmartMoney: Napster is a snooze, gushing money and renting music is un-American anyway – July 06, 2005
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Napster CEO Gorog: Steve Jobs ‘must be pretty frightened’ of Napster To Go – March 14, 2005
Apple’s iPod has blood on its Click Wheel: Virgin Electronics is dead – March 08, 2005
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Napster CEO Gorog: ‘it’s stupid to buy an iPod’ – February 10, 2005
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  1. Ugly Girl: “I’m going to the prom with the captain of the football team!”

    Pretty Girls: “Really?! Wow, you might be kind of cool!”

    Captain Of The Football Team: “You’re not going to the prom with me, and in fact I have absolutely NO interest in you whatsoever!”

    Pretty Girls: “You suck, you lying whore!”

    Ugly Girl: “I just might kill myself!”

    Nice try, Napster. You’re still the Ugly Girl no one wants to take to the prom. ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

  2. If I was Google looking to by Napster and watching their stock balloon as much as 50% I’d say the same thing so Napster’s stock would go back down.

    But then again, if I was Google I would have no interest in a black hole company who’s only claim to fame was stealing.

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