Bertelsmann, Napster to Develop Music Service
Music & MP3
10/31/2000; 12:48:57 PM
'Entertainment giant Bertelsmann AG (BTGGga.D) and controversial song-swap company Napster (news - web sites) Inc. said on Tuesday they formed an alliance to develop a new secure file-sharing music service.'
Also see an e-mail posted onto the Napster Weblog from the Bertelsmann Chairman:
'We have entered into a strategic alliance with the Internet-based music exchange Napster. Under the terms of the deal, Bertelsmann will support Napster financially in the establishment of a legal business model. In return, we will receive an option for the acquisition of a stake in Napster.'