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LOS ANGELES Shares of online music firm Napster jumped as much as 15 percent on Friday after the company unveiled a deal to serve as the exclusive provider of subscription music services for Time Warner Inc.’s AOL unit.
The companies didn’t disclose financial details, but said about 350,000 paid subscribers of AOL’s Music Now service will be migrated to Napster under the deal. Napster this month also acquired the subscriber base of the former Virgin Digital service.
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