Napster Looks For A Buyout
Napster revealed that it has hired UBS Investment Bank to solicit partnership and acquisition proposals for the company. Rumors of such a play first appeared in February, at which time Napster CEO Chris Gorog strongly denied that the company was seeking a buyer. It comes as no surprise to anyone that a company which is hemorrhaging cash needs a bail out, the question is who will take the hit? “Napster is in a strong position to...
Output Recordings Closes Up Shop
Label Head Trevor Jackson Blows An “O-Ring” In Farewell Rant/Letter Output Recordings, the UK based label, has ceased operations. In a farewell “letter” to industry contacts, the label’s founder and owner, Trevor Jackson, ranted about artist conflicts and financial strains for the reason to shutter the label which was home to LCD Soundsystem, The Rapture, Mu, Tet, and others including Jackson’s own...
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