Rhapsody to Acquire Napster from Best Buy (BBY)
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Rhapsody has signed an agreement with Napster, a unit of consumer electronics retailer Best Buy Co., Inc. (NYSE: BBY).
Under the terms of the agreement, Rhapsody will acquire Napster subscribers and certain other assets, and Best Buy will receive a minority stake in Rhapsody. The transaction is expected to close on or around November 30, 2011.
Financial terms were not disclosed.
Under the terms of the agreement, Rhapsody will acquire Napster subscribers and certain other assets, and Best Buy will receive a minority stake in Rhapsody. The transaction is expected to close on or around November 30, 2011.
Financial terms were not disclosed.
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