AfterDawn: News

A Delaware bankruptcy judge has approved a $200,000 loan to Napster to keep the company alive till the sale of its assets has been completed. The company behind the loan is Napco Acquisition, who at the same time signed a letter of intent to buy some of Napster's assets.

There has been alot of interest in the assets of the former music-swapping site, and acording to Rick Antonoff, attorney for Napster's creditors commitee, a final agreement to sell the assets could be reached in two weeks.



Source:
Reuters


Written by: Jari Ketola @ 23 Oct 2002 14:59