Napster Surges From Ashes of Roxio
Napster’s parent company, Roxio, told news services Monday that it will sell its consumer software division for $80 million and focus wholly on its Napster digital music business in the future.
Rueters reports that Roxioplans to officially change its name to Napster, taking the brand of the onetime file-swapping revolutionary that it purchased nearly two years ago.
Staring last Christmas Roxio began operated Napster as a paid digital music download and subscription service, partnering with Yahoo and other large web publishers.
Now, Napster is a direct competitor of Apple Computer’s iTunes.
Reuters adds that the Napster division is now making about $7.9 million a quarter, and is on track to reach $30 million to $40 million for its fiscal year.
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