Best Buy eyes Apple, Microsoft with Napster purchase
15 September 2008
Today, electronics retailer Best Buy announced that it would buy Napster for a total of $121 million, a significant premium over the company’s value based on either stock price or assets.
“Hi there! We’re Best Buy.
We know nothing about digital music.
No, seriously – absolutely nothing. Not a clue.”
It’s almost like they’re trying to prove how stupid they are – Napster is a company loosing customers hand-over-fist as its main subscription business has unsurprisingly turned out to be a failure. The brand only has recognition from its illustrious illegal past and subsequent appalling advertising.
I don’t get it.
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David Emery Online