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Not Eminem but Napster. Roxio, in a classic move of a company without direction sold its money making software business to Sonic Solutions and changed its name to Napster. “With the successful completion of the transaction, Napster will emerge as a well-positioned pure-play in the fast-growing […]

Not Eminem but Napster. Roxio, in a classic move of a company without direction sold its money making software business to Sonic Solutions and changed its name to Napster. “With the successful completion of the transaction, Napster will emerge as a well-positioned pure-play in the fast-growing digital music sector with a substantially enhanced balance sheet that will support our growth plans,” stated Roxio CEO Chris Gorog. Question: what share of the downloadable market does your company have? In the fiscal first quarter 2005 software sales were $22 million, profits about $6 million. Napster business sales: $7.9 million, operating loss around $8.1 million before hiring, firing and other such pesky corporate expenses. New ticker, NAPS… which could ironically mean, the company and its stock are about to take a long nap. And then be declared comatose.

By Om Malik

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