Roxio buys Napster for $5 Million

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Software maker Roxio bought the remaining intellectual property assets of the now defunct song-swap company Napster for just over $5 million in cash Wednesday.

The deal went through immediately following a Delaware bankruptcy court's approval.

Santa Clara-based Roxio, which specializes in CD-burning software, snapped up Napster's patents and brand name for the cash, plus $300,000 in warrants for shares of Roxio common stock.

Roxio officials haven't announced what they'll do with the file-sharing company's leftovers, though earlier this month chief executive Chris Gorog said Napster's intellectual property "will expand our role in the digital media landscape and enhance our offerings to consumers."

Roxio is not assuming any of Napster's liabilities. And Napster's remaining hardware, servers, routers, computers — remains part of the company's bankruptcy proceeding and will be auctioned off Dec. 11.

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