Napster is officially dead. The seminal music sharing company was just sold to competing music service Rhapsody, who will siphon off Napster’s subscribers into their own service. Napster’s LA and San Diego offices will be shuttered, leaving nearly 120 people out of work. The layoffs apparently won’t be immediate. They’ll come right before Christmas. Isn’t holiday season in America wonderful these days?
Many of you out there probably didn’t realize Napster was still around. Best Buy purchased the service three years ago for nearly $121 million. Over that time the site lost nearly 500,000 subscribers. At the time of its demise it was down to around 200,000.