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posted by CopyGuru
on Monday May 20, @10:06AM
from the lightning-could-strike dept.
Napster's acceptance of Bertelsmann's $8 million revised acquisition offer compelled founder Shawn Fanning, Chief Executive Konrad Hilbers and others to return to the company. The group had resigned earlier this month after Napster's board rejected Bertelsmann's $5 million offer. (Read the previous greplaw thread for details.)
Why the change of heart for both Bertelsmann and Napster? The New York Times reports that Bertelsmann preferred to acquire Napster, rather than merge it with another Bertelsmann property (the earlier plan), to limit the firm's liability in Napster's copyright-infringement case. As for Napster, a Delaware court settled the board's wrestling for control by ruling for the Hummer Winblad partners, whose control had been disputed by board member John Fanning.
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