As with most start-up technology businesses, Napster's technology is of little value without the talented team that created it, so it is an occasion of loss on many levels, |
Napster is disappointed with the bankruptcy court's decision not to approve the sale of the company's assets to Bertelsmann, |
Today's filing marks a new beginning for Napster. It is clear that the demand for an Internet-based music file sharing community that benefits artists and consumers is as strong as ever, ... The chapter 11 process will allow the company to move forward with a talented team and continue on the path toward launch, while pursuing a plan to make payments to our creditors. |
We are pleased to have secured such an important element in creating our new service, one that will benefit songwriters, artists and consumers alike. |