Roxio Buys PressPlay


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MacCentral:

Toast maker Roxio Inc. today announced that it had acquired Sony/Universal’s Pressplay online music service. The company plans to use Pressplay as the basis for its relaunch of Napster. A joint venture between Universal Music Group (UMG) and Sony Music Entertainment (SME), Pressplay has been acquired by Roxio for US$12.5 million in cash and 3.9 million shares of Roxio stock — a purchase valued at about $39.5 million.