Napster subscribers decline; Company considers sale

Updated

Napster said yeterday that it wouldn’t rule out a sale of the company after reporting that the subscriber base for its online music service had fallen 7 percent. “We do not have our heads in the sand regarding an M&A (merger and acquisition) transaction. We continue to receive a lot of interest in the company. We will always carefully weigh any valuation alternative against the opportunity and risk associated with continuing as a standalone company,” Napster CEO Chris Gorog told analysts on a conference call. Napster reported a net loss of $9.8 million for its first fiscal quarter. The company’s total paid subscriber base as of June 30 was 512,000, including 4,000 university-paid subscriptions.

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LC Angell

LC Angell was a senior editor at iLounge. Angell is known for her work on various aspects of the Apple ecosystem, including iPhone, iPad, and iPod. In his role at iLounge, Angell was responsible for a wide range of editorial content, including reviews, buyer's guides, news, and features.