“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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Report: Napster executives do the math, consider selling or shutting down, layoffs imminent – January 16, 2006
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Napster CEO Gorog: Apple iPod is a ‘villain’ – December 12, 2005
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HAHAHAHAHAHAHAHAHAHAHAHAAAAAA
die napster
Sounds like somebody is farting around with the system to get a few laughs!
For shame, those devious profiteers are at it again.
How long do we give Napster?
Anyone taking bets?
I’d say between 4 and 8 weeks.
Napster probably floated the rumor that Google was going to buy them to inflate their stock price.
http://musobs.blogspot.com
charko…. I’m guessing sooner rather than later. 4 weeks, end of Feb.
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.
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G-ZUS is correct. They are manipulating the stock price by floating the rumor.
All this time and they’re still in a “show me mode”??
Investors should be fed-up by now…
well then would someone float some rumors about Apple and Sirius working together, i need to make some cash.
A firesale with digital goods? How would that look like?
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.
If I were Google I would deny it and then buy them up after the stock hit a realistic price. No reason to overpay. If anything, the Napster name is still quite a nice piece of mind share and worth some cash.
http://robztechblog.com/wordpress/
Bizzarro Jeff,
All Ugly Girls give head.
All guys named Al take it up the butt!
So when will the judgment be made that music subscription is a failure..
Bizarro Jeff,
One coreection: Napster would be like taking an escort to the prom and having to return her by 11 p.m., leaving you sexually frustrated.
iTunes Music Store is like taking an awesome chick that you like to the prom only to find out later that night that she has a crush on you, as she drops to her knees.
“If I were Google I would deny it and then buy them up after the stock hit a realistic price. No reason to overpay. If anything, the Napster name is still quite a nice piece of mind share and worth some cash.”
Yeah — young people associate it with being free, and older people associate it with being illegal. That’s the kind of mindshare I want to buy!
A firesale with digital goods? How would that look like?
They mean figuratively speaking — rock-bottom prices because they’re desperate. Couldn’t happen to a more deserving bunch (except the MS mafia).
Derf. Well, after saying in another thread how my prediction that Napster would be bought was turning out right after all, now it’s wrong after all.
The mood has gotta be grim over at Napster. I figure Gorog is trying to build a time machine so he can go back and prevent the company from selling Roxio. Sure would be nice to have those Toast revenues right about now, wouldn’t it, Chris?
Google has their own problems. Their stock is down close to $70 today in after hours trading.
‘Music service pioneer’?? Just because the own the name Napster doesn’t mmake these clowns pioneers!
hilariuos!!!…
someone at the top of napster started this rumour to make a few bucks out of a dying piece of turd company.
sell sell sell
Eagerly awaiting Napsters imminent demise…
See those dark shapes flying above the horizon?
Vultures.
LordRobin wrote:
“I figure Gorog is trying to build a time machine so he can go back and prevent the company from selling Roxio. Sure would be nice to have those Toast revenues right about now, wouldn’t it, Chris?
heh, heh, heh! him being the aforementioned Ugly Girl, i’d bet Gorog would blow the whole football team to have Roxio back right about now!!
MW: “chance”. make of that what you will.