Tag: Napster
Despite shutting operations give years ago, a video-on-demand company, Intertainer, filed a broad lawsuit asserting that Apple, Google and Napster are infringing on a 2005 patent that covers the commercial distribution of audio and video over the Internet. Go ahead and read through the patent and help us all understand what is new or non-obvious in the patent. Theodore Stevenson, a partner at McKool Smith, the Dallas firm representing Intertainer, said the company filed suit against Apple, Google and Napster because they were perceived as...
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Napster announced today that in response to recent third party interest in establishing strategic partnerships or potentially acquiring the company, it has retained UBS Investment Bank to assist the Board and management in its evaluation of strategic alternatives. This last fiscal quarter the company lost nearly $10 million from operations (or $40 million annualized).
Chris Gorog, Napster's Chairman & CEO, said, "Napster is in a strong position to continue aggressively building our business as an independent company and we are pleased to...
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You know your company is in trouble when the latest press release includes "continues to reduce cash burn" in the title. Napster shareholders got just that, along with the news that Napster lost $9.8 million, $0.23 per share, in the first quarter of the fiscal year. However, this was a "cash burn reduced" decline from $19.9 million, $0.46 per share, a year ago. Napster's subscription service also declined, down 7 percent to 512,000 users, including 4,000 at universities. Believe it or not, this is also good news, at least according to Napster...
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