Napster CEO calls it quits

The chief executive officer of embattled file-sharing company Napster has resigned, the company confirmed in a statement Tuesday.

Konrad Hilbers, who sat at the helm of Napster for nearly a year, stepped down as ongoing efforts to pull the company out of its financial woes have been unsuccessful.

Napster continues to battle a devastating lawsuit filed against it by the Recording Industry Association of America Inc., representing the major recording companies, that shut down Napster's service last year. It has also had a rough time making deals with those labels to offer their music online. As a result, the Redwood City, California, company has indefinitely shelved its plans to launch a file-sharing service that complies with digital copyright laws.

Efforts to raise money from investors also have gone unsuccessful, the company said Tuesday in a statement. German media giant Bertelsmann AG, which has already poured upwards of US$100 million into the company, made an unsuccessful bid last month to acquire the whole of Napster. That deal was shot down by some members of Napster's board, according to media reports on Tuesday.

"We deeply regret that we have not yet been able to find a funding solution that would allow Napster to launch a service to benefit artists and consumers alike," the company said in its statement.

Lacking a cash infusion or a service to sell to customers, Napster last month was forced to trim 30 percent of its staff.

Further efforts to cut costs are slated to take place, Napster said Tuesday. The Wall Street Journal, citing unnamed sources, reported Tuesday that Napster may be facing bankruptcy.

"We will be looking at additional steps in the coming week to further reduce expenses," the company said in its statement.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Matt Berger

PC World
Show Comments

Most Popular Reviews

Latest Articles


PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?