Monday, September 15, 2008

Napster finds buyer. No, really

The long search for a buyer for Napster - or "search for a mark", as I understand it's known - has reached an end, with US electrical chain Best Buy shoveling about USD125million for the ex-con music download site which has struggled to make a go of it since going straight.

Business analysts are using words like "intriguing":
Morgan Keegan & Co. analyst Tavis McCourt called the offer a "potentially intriguing acquisition."

See? What that basically translates as is "I can't think of a single reason why they would throw their money away on this, but just in case they have a plan, I'm not going to point and laugh in public".

The stock market knew how to react, though: Napster's share price shot up, like someone had suddenly found a place where you could sell five dollar bills for a tenner; Best Buy's sank.

[Thanks to Michael M]

2 comments:

  1. Olive15/9/08 9:34 pm

    125 *million* for Napster? Yes, it's funny now, but just remember that geniuses like the one that came up with that idea also run our pension funds.

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  2. Anonymous15/9/08 10:21 pm

    "Morgan Keegan & Co. analyst Tavis McCourt called the offer a 'potentially intriguing acquisition.'"

    Good god, it's Mother's Day 1985 all over again. "Ooh, a pasta-and-string, erm... Dishcloth-tidy? Thank you, that's... different..."

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