Investors: Napster Should Sell
Three investors have begun a fight to get elected to Napster’s board of directors so they can push for a sale of the digital music company, according to the Los Angeles Times. They claim that Napster’s current management is incompetent and busy enriching itself, and should try harder to find a buyer.
“Napster should be exploring all possible avenues of maximizing stockholder value, including a sale,” the investors said Thursday in a letter to the Securities and Exchange Commission.
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