Media analyst weighs in on Best Buy/Napster deal
Today, Best Buy announced a move to buy into the digital music business. The Richfield-based electronics retailer is planning to acquire Napster for about $121 million. And, Napster's executives have accepted Best Buy's offer to buy outstanding shares of the digital media company's stock for $2.65 per share.
About 700,000 subscribers currently use Napster's on-demand music service.
To talk more about the Best Buy/Napster deal Tom Crann talked to Aram Sinnreich. He is a media industry analyst teaching at New York University and managing partner of Radar Research, a media, technology and commerce consulting firm.
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