Technology News: Best Buy to Purchase Napster

Best Buy, an electronics retailer will purchase Napster, Inc., an online music sharing community, for about $127 million.

Best Buy will likely utilize Napster to boost it's digital music business and bundle digital contents with it's PC and mobile handset products.

Napster that was once a dorm room project has now have 700,000 subscribers that pay monthly fee to access and download music.

This acquisition is also beneficial for Napster as it competes to the popularity of Apple Inc.'s iTunes Store Music.

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