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Napster reaches an agreement with Bertelsmann

Napster reaches an agreement with Bertelsmann

After much back and forth, an agreement was reached between the Napster music exchange and the Bertelsmann Group. This means that Napster barely misses out on insolvency that should have been filed for on Wednesday.

With this agreement, all assets are transferred to the Bertelsmann Group. In return, Napster gets $ 8 million to pay off their debts. The resignation of ex-Napster boss Konrad Hilbers wants to be reversed, so Joel Klein, Bertelsmann boss of America.

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