Roxio to buy Pressplay
May 19th, 2003
Roxio, makers of one of the most popular CD burning programs, and owners of the Napster name announced a plan to buy Pressplay from the two major labels that founded it. Roxio is spending $39.5 million on Pressplay. Add that to the $5 million they spent on Napster, and the $20 million they plan to spend, and they’ve got themselves a $65 million gamble. If they can do anywhere near the business Apple is doing, it may not be such a bad gamble… but that’s a big if.
