Napster's Independent Days are Numbered
As Bloomberg reports, Napster, the original Internet music pioneer whose shares plunged a staggering 95 percent in six years, has “become takeover bait for hedge funds zeroing in on a cash hoard exceeding the company’s market value.”
It’s true: the company reportedly has $69 million in cash, but only has a market cap of $52 million at the close yesterday. The company has revamped itself several times in recent years, and has various mobile and even international
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