JDS Capital Management

Report: Hedge Funds May Seek Buyout of Napster

Authored by Mark Hefflinger on July 21, 2008 - 12:07pm.

New York - Struggling digital music service Napster (NASD: NAPS), which has not posted a profit in four years and has seen its share price tumble 95% over the past six years, may be ripe for a takeover now that its nearly $70 million in cash and investments exceeds the $52.1 million its shares are valued at, Bloomberg reported.