Napster — which Best Buy had purchase in 2008 for some $121 million — has been purchased by rival subscription music service Rhapsody for an undisclosed amount, while Best Buy will retain a minority stake in the combined company. Rhapsody points out that the deal melds the two largest subscriber bases of "the two largest premium on-demand music services in the United States," which should shore up the effort to fight off up-and-coming, socially-focused services like MOG, Rdio, and Spotify. The deal is expected to close around the end of November.
Rhapsody acquires Napster from Best Buy
Rhapsody's acquisition combines the two largest on-demand music subscriber bases in the US.