Google denies Napster tie-up, music store plan

Google squashed recent rumors that it is planning to buy Napster and build its own online music store.

Google on Tuesday refuted recent reports that it will open an online music store and that it plans to acquire Napster.

In the digital music market, Google is sticking with its strategy of delivering music-related information via its search engine and providing its users with links to third-party online music stores, the Mountain View, California, company said in a statement.

Napster's stock shot up more than 50 percent at one point on Tuesday after the New York Post reported in an anonymously-sourced article that Google "is considering an extensive alliance with Napster, which could include an outright acquisition."

Napster operates an online music store and an online music subscription service, a hybrid model in this market. Users can purchase songs or entire albums, download them from the store and keep them forever. They can also pay a monthly fee and get unlimited access to the contents of the Napster music library.

Napster's stock closed at US$3.12 per share on Monday, but climbed as high as US$4.95 on Tuesday, fueled by the Post story. At press time, it was trading at US$3.77, up about 21 percent. In the past 12 months, it has fluctuated between US$2.95 and US$9.84.

Last week, Bear Stearns & Co. financial analysts speculated in a research report that Google is building an online music store to rival Apple Computer's iTunes.

Making clear that Google hadn't confirmed their speculation, the analysts wrote that they expect the search giant to release a beta, or test, online music store in the next three to six months.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Juan Carlos Perez

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?