Tuesday, 3. September 2002
Topic: - on September 3, 2002 at 10:52:33 PM CEST
Napster's Future Could Be Determined Today
Napster CFO Carolyn Jensen, appearing Friday in U.S. Bankruptcy Court in Delaware, warned that failure by the court to approve the file-sharing service's sale to German media company Bertelsmann A.G. by today (Sept. 3) would force it to cease operations immediately, Billboard Bulletin reports. Bertelsmann, whose offer of $100 million for the Redwood City, Calif.-based service's assets includes more than $90 million in loans, has said that it will rescind the offer after today.
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